New car market in Russia: August 2024 figures are released

According to the AEB Automobile Manufacturers’ Committee, a total of 152,012 new passenger cars and light commercial vehicles were sold in Russia in August 2024, including alternative supply channels. According to sales data from PPC JSC, 155,277 units were sold. Sales in August 2024 exceeded sales in August 2023 by 34%, and sales results for the first 8 months of the current year outpaced sales for the same period last year by 62%.

Alexey Kalitsev, Chairman of the Automobile Manufacturers Committee, comments: "Sales of new cars in August 2024 showed the best August result in 10 years, starting from 2015.

Obviously, this is due to a range of factors. Firstly, it should be noted that, against the background of a shortage of offers on the market after February 2022, a significant deferred demand was formed. It has been being satisfied as the market is saturated with new models.

In addition, expecting the increase in disposal fees from October 1, buyers are in a hurry to purchase a new car. We also should not forget about the change in the tax legislation and further decisions on the key rate. Thus, the August which is used to be "calm" due to holidays, hits a ten-year record.

With a high degree of probability, this trend will continue in September, unless new factors influencing consumer behavior appear."

Additional information is available on the AEBRus website.

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