Car sales in Russia may grow by 3% in 2022

According to AEB data, last year 1,670,000 cars were sold in the Russian car market. Compared to the previous year’s sales, growth is estimated at 4%. The Association’s report notes that the sales growth high percentage in the Russian car market is explained by a low base. In 2020, sales collapsed due to restrictions put in place to combat the coronavirus spread. However, the potential for increased car sales previous year was not fully realized. The Russian auto industry, like the globe, is experiencing concerns due to failures in the supply of components. The cars sold leaders in 2021 were BMW and the Russian company GAZ. Their annual sales increased by 10% to 46,800 and 56,500 units, respectively. The European Businesses Association expects that in 2022 sales in the Russian car market will show an increase of 3.3%. In total, 1 million 720 thousand cars will be sold. However, much will depend on how to solve the issues associated with the shortage of microcircuits.

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Arseny Kudrin

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