The Russian automotive market has demonstrated growth in 2024. But the increase is mostly based on a low base and new obstacles loom.
Fly.
In a remarkable rebound, the Russian automotive sector reported a 47% surge in new car sales in 2024, totaling 1.55 million vehicles, according to the Ministry of Industry and Trade. This growth follows a drastic decline in previous years, primarily attributed to the exit of Western manufacturers amid geopolitical tensions. While the increase is encouraging,experts caution that it stems from a historically low sales base,as the market struggled with only 690,000 units sold in 2022. The future remains uncertain as the industry faces ongoing challenges and potential new barriers.
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