MOSCOW, July 5. /TASS/. Production of tires in Russia may gain 5% year on year in 2024, the secretariat of First Deputy Prime Minister Denis Manturov said after his business trip to the Kaluga Region.

"We would like to note that after the exit of foreign Michelin, Bridgestone and Continental key tire plants had the control of Russian investors established and continued production, ensuring stable deliveries to the domestic market and for exports (up to 50% in the market). The Russian tire industry is forecast to have production growth by 5% this year against the last year. The annual capacity is about 70 mln units which almost fully cover the domestic market need in the car and truck tire segment," the secretariat said.

In 2023, 45.6 mln tires were produced, the secretariat noted. The forecast production volume in this year is about 48 mln tires.