New car market in Russia: May, 2024 figures are released

New car market in Russia: May, 2024 figures are released

According to the AEB Automobile Manufacturers Committee, total sales of new passenger cars and light commercial vehicles in May 2024 amounted to 125,501 units excluding alternative supply channels and about 132,363 units including them. This is confirmed by sales data from PPC – 132,523 units.

"Chairman of the Automobile Manufacturers Committee, Alexey Kalitsev, comments: “In May 2024, the Russian automobile market continued its rapid growth by +72.5% compared to May last year. At the same time, if we look at the dynamics, we see that March 2024 exceeded the sales figure for the corresponding month of last year by 102%, April - by 78%. Thus, despite the continuing trend of almost doubling sales volume, a slowdown in growth rates is obvious. One of the factors that traditionally affects sales volumes in May is the holiday season, and traffic at dealership centers is correspondingly reduced. The decline in growth rates is also due to the growing base of last year.

June will show whether the slowdown in market growth is sustainable.

Market dynamics for 5 months of 2024 are +81%. The market surpassed 617,000 of new vehicles sold between January and May, suggesting that our 2024 forecast presented in January has a good chance of being realized. We will update it in our next press release at the same time as present the data for the first half of 2024."

Additional information is available on the AEBRus website.

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According to a recent report by PPC JSC, there were 132,523 new passenger cars and LCVs sold in Russia in May 2024