Experts from the AUTOSTAT agency have updated the forecast for the market of new passenger cars in 2023. Just a month ago, the agency’s experts’ basic forecast for the current year was 930 thousand units. Now this figure has been increased to 990 thousand vehicles (+58% of the 2022 result). Under an optimistic scenario, sales of new cars in Russia could reach 1 million 050 thousand units (+68%). Director of the AUTOSTAT agency Sergei Tselikov has repeatedly expressed the opinion that the Russian car market will reach 1 million cars sold by the end of 2023.
Let us recall that in 2022 the car market fell by approximately 2.5 times in compare with 2021. Then the fall was due to the consequences of the new geopolitical situation, due to which automobile brands from unfriendly countries left the Russian market. Because of this, pent-up demand arose, and in 2023, sales of new passenger cars began to grow rapidly. In addition, the growth of the car market is associated with the unprecedented popularity of Chinese brands. Their share in the Russian market is increasing from month to month.
New brands are appearing in Russia, and the model range is constantly expanding. Even in the agency’s pessimistic forecast, sales of new passenger cars will increase by 50% and reach 940 thousand vehicles. Experts note that a number of negative factors still have to be taken into account: a new recycling fee, a ban on the import of some cars from Japan, and limited supplies from Georgia. Experts also take into account the growth of foreign exchange rates. This factor directly affects prices and, as a result, car sales.
