ST. PETERSBURG, June 6. /TASS/. Sales of new cars in Russia soared by 68% in January-May 2024 to almost 700,000 units, Deputy Industry and Trade Minister Albert Karimov said at the St. Petersburg International Economic Forum (SPIEF).

"We registered an increase in the domestic market of new cars by almost 70% in January-May year-on-year. The market grew overall by 68%, with slightly less than 700,000 cars sold," he said.

According to figures provided by the ministry, 591,000 passenger cars were sold in Russia in the first five months of this year (up by 82%), 50,100 light commercial vehicles (up by 45%), 48,800 trucks (up by half a percent), and 9,100 buses (up by 19%).

In May, almost 146,300 new cars were sold (up by 58% year-on-year and down by 9% month-on-month), including almost 126,000 passenger cars (up by 75% year-on-year), 9,700 light commercial vehicles (up by 25%), 9,200 trucks (down by 17%), and 1,400 buses (down by 11%).

The St. Petersburg International Economic Forum (SPIEF) is being held on June 5-8. This year’s theme is "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.