Russian Car Market Expected to Contract by 24% This Year
Russia's car market is estimated to shrink up to 24% in 2025, which continues its struggle due to Western sanctions and disruptions in the supply chain after Ukraine's invasion. According to the Russian association of European companies, it is expected that only 600,000 new passenger cars and light commercial vehicles will be sold this year, under 792,000 in 2024. Chinese manufacturers stay weak due to falling revenues, limited patron credit score and high automobile charges, in spite of the speedy filling of zero again of western and Japanese producers. Domestic production has also fallen quickly as foreign businesses left the Russian marketplace, forcing nearby centers to rely extra on Chinese components and mounting kits. Analysts say Russia's automotive industry will remain stable, without significant economic reforms or improvement in local production. The government is trying to promote demand through grants and encouragement, but experts suspect that these measures will reverse the declining trend in the next few periods.
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