ST. PETERSBURG, June 6. /TASS/. The production of cars in Russia increased 1.5-fold in January-May to almost 350,000 units, Deputy Industry and Trade Minister Albert Karimov said at the St. Petersburg International Economic Forum (SPIEF).

"In the five months [of 2024] almost 350,000 cars were produced, 348,000, which is more than 1.5 times higher than in the same period last year, [an increase] by 52%," he said.

Meanwhile, the production of passenger cars roughly equaled 280,000 units in the reporting period, which is more than 70% higher than in the same period in 2023.

Russian First Deputy Prime Minister Denis Manturov said earlier that the production of cars might reach slightly over 800,000 units in 2024.

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.