The Ministry of Industry and Trade expects the Russian car market to decline by 55% in 2022

The Ministry of Industry and Trade of the Russian Federation predicts that sales of passenger cars in Russia by the end of 2022 may amount to about 750 thousand units, which is 55% lower than the previous year. This was stated by Tigran Parsadanyan, Deputy Director of the Department of Automotive Industry and Railway Engineering of the Ministry of Industry and Trade, recalling that in order to support automakers under sanctions pressure, the government softened the requirements for car certification in Russia until February 1st, 2023, so that vehicles of all environmental classes, including low, and without a number of devices inaccessible due to sanctions. Recall that last year the Russian car market amounted to 1.67 million cars, which is 4.3% higher in compare with 2020, the TASS agency writes. According to the results of five months of 2022, sales of cars and light commercial vehicles in our country decreased by 52% to 318,114 units, according to the data of the Association of European Businesses.

"In general, the demand in the market is improving. But it is solely due to the stabilization of the situation and the gradual reduction in lending rates. In the event of a complete cessation of car sales by some brands, their place will be taken by other, new and remaining distributions. As for the sales of new cars this year, the forecast is that they will be sold less than in the 1998 and 1999 crisis years," says Alexei Makarov, Director of Development and Corporate Management at Nizhegorodets.