Russia’s new automobile gross sales up 47% in 2024, businesses cite trade ministry

(Reuters) – Gross sales of latest passenger vehicles in Russia elevated by 47% yr on yr to 1.55 million models in 2024, Russian information businesses reported on Saturday, citing trade and commerce ministry knowledge.

New gross sales in 2025 are seen dropping by round 10% to 1.43 million models, Sergei Tselikov, head of Russian analytical company Autostat, mentioned in December, as excessive inflation and scrappage charges push costs up.

Moscow’s invasion of Ukraine in February 2022 drastically reshaped Russia’s automobile market, with Western carmakers abandoning the nation and Chinese language ones swooping in to plug the manufacturing hole. Gross sales slumped in 2022 however have been steadily recovering.