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Russian new cars market may dip 20% in February 2025 — minister

Risks related to high car loan interest rates in the first instance are in place, Anton Alikhanov said

KAZAN, February 27. /TASS/. Sales of new cars in Russia this February may plunge by more than 20% and the market has a dip for imported cars, Minister of Industry and Trade Anton Alikhanov said at the meeting of the Coordination Council for Industry.

"We see ambiguous market dynamics from the start of the year. While growth in January totaled 7% annually, we see negative dynamics in February thus far and forecast that sales may plunge by more than 20%. This dip however is mainly for imported cars," the minister said. "Sales of domestic brands in January were higher than last year; they remain almost flat in February thus far," Alikhanov noted.

Risks related to high car loan interest rates in the first instance are in place, the minister said. The Ministry of Industry will adapt support measures for the sector if needed and the ministry will continue working on more targeted support of the demand, he added.