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Finance

Russia's new car sales up 47% in 2024, agencies cite industry ministry

Published by Global Banking & Finance Review

Posted on January 4, 2025

1 min read

· Last updated: January 27, 2026

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(Reuters) - Sales of new passenger cars in Russia increased by 47% year on year to 1.55 million units in 2024, Russian news agencies reported on Saturday, citing industry and trade ministry data. New

Russia's Car Sales Increase 47% in 2024, Industry Reports

(Reuters) - Sales of new passenger cars in Russia increased by 47% year on year to 1.55 million units in 2024, Russian news agencies reported on Saturday, citing industry and trade ministry data.

New sales in 2025 are seen dropping by around 10% to 1.43 million units, Sergei Tselikov, head of Russian analytical agency Autostat, said in December, as high inflation and scrappage fees push prices up.

Moscow's invasion of Ukraine in February 2022 drastically reshaped Russia's car market, with Western carmakers abandoning the country and Chinese ones swooping in to plug the production gap. Sales slumped in 2022 but have been steadily recovering.

(Reporting by Alexander Marrow; Editing by Toby Chopra)

Key Takeaways

Russia's new car sales rose by 47% in 2024.
1.55 million new passenger cars were sold in Russia in 2024.
Sales are expected to drop by 10% in 2025.
Western carmakers left Russia after the 2022 Ukraine invasion.
Chinese carmakers filled the production gap in Russia.

Frequently Asked Questions

What is the main topic?

The main topic is the significant increase in Russia's new car sales by 47% in 2024, with future predictions for 2025.

Why did Russian car sales increase?

The increase is attributed to the recovery from the 2022 slump and the entry of Chinese carmakers into the market.

What are the future predictions for Russian car sales?

Sales are expected to decline by 10% in 2025 due to high inflation and scrappage fees.

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