The Ministry of Industry and Trade predicted a halving of the car market by the end of 2022

by time news

Sales of passenger cars in Russia will decrease by 55% and amount to 750,000 this year. This forecast was announced by Tigran Parsadanyan, Deputy Director of the Department of the Automotive Industry and Railway Engineering of the Ministry of Industry and Trade, at a round table in the Federation Council, TASS writes.

In his speech, Parsadanyan also recalled the easing of the requirements for car certification in Russia until February 1, 2023. Thanks to this, manufacturers can produce vehicles of all environmental classes and without a number of devices. “Because of the sanctions, we had difficulties on some components. Basically it’s electronics. And in order to enable our producers not to significantly reduce production volumes, we signed this resolution,” said Parsadanyan.

The estimates of the Ministry of Industry and Trade turned out to be approximately similar to the forecasts of the Association of European Businesses (AEB). According to its data, from January to May 2022, 318,114 light and light commercial vehicles were sold in Russia, which demonstrates a 52% drop in the car market in annual terms.

In May this year, the AEB also noted a sharp drop in the car market by 83.5%. The bestsellers included cars from Lada, Kia and Hyundai. At the same time, in April, the level of car sales in Russia decreased by 78%.

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