New car sales forecast to fall in Russia
In annual terms, the Russian car market may shrink by 40%. By the end of March, sales may only exceed 80 thousand new cars, which is about 2.6% more than the failed sales in February and probably 10% lower than in January. This was stated by Sergey Tselikov, CEO of the Autostat analytical agency, Kommersant reports on March 20.
If in March 2024, sales turned out to be abnormally high in anticipation of April changes in the rules for importing cars into the country, now there is no spring demand, Tselikov said. In the first half of March, sales amounted to slightly more than 40 thousand new passenger cars. The first quarter will be about a quarter lower than last year, he predicted.
The analyst explains the decline in sales with high loan rates, which is why Russians accumulate interest on deposits, as well as overstocking distributors - Russians expect discounts on cars. In addition, the strengthening of the ruble and rumors about the return of foreign brands are not in a hurry to buy, the expert noted. However, he believes that pent-up demand is now forming, which may be realized in the summer.
Dealers interviewed by the publication also confirmed the lack of seasonal demand for cars in March on the market.
On March 18, it was reported that if in January 2025 the turnover from the sale of new passenger cars in Russia amounted to 264 billion rubles, then in February the revenue figure decreased to 231 billion rubles and reached the lowest values in the last 12 months.
March 10, Director of Development and Sales of Avto.<url> Business Daniil Shkurygin explained that one of the main reasons for the decline in new car sales in Russia this winter was the high interest rates on loans. In addition, banks have new responsibilities to create reserves in case of possible risks associated with non-fulfillment of loan obligations by borrowers.
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