MOSCOW, November 19. /TASS/. Sales of new cars and light commercial vehicles in Russia may fell by 21-30% in 2025 in annual terms if the key rate grows, President of the Russian automaker Avtovaz Maxim Sokolov told reporters.

"I am confident that the market of cars and commercial vehicles will contract. We fundamentally forecast the market drop in the next year, if the [key] rate continues growing, to 1.3-1.4 mln [vehicles]. That is, the decline will be by 300-400 thousand automobiles against expected results of 2024," Sokolov said.

The car market is now declining significantly, by up to 40%, the chief executive said. "We see the drop in our sales is slightly lower, within 25-30% from our November plans. Compared to the last November, indicators are approximately equal although slippage has already surfaced," Sokolov added.