New car market in Russia: October 2024 figures are released

According to the AEB Automobile Manufacturers' Committee, total sales of new passenger cars and light commercial vehicles in October 2024 amounted to 177,505 units.

According to PPC JSC, sales of new cars in October amounted to 181,128 units, which is 51% more than in October 2023.

Alexey Kalitsev, Chairman of the Automobile Manufacturers Committee, comments: "In October, the new car sales market did not defeat expectancies and continued to grow, especially in the first half of the month, moving on the momentum of high sales of September. It is obvious that the stock of cars formed by dealers, as well as the still deferred demand, will provide their support for some time longer.
The results of ten months of the year are close to the industry forecast announced by the AEB earlier, so there is no doubt that it will be exceeded and the market may overcome the 1.6 million sold cars.
However, the trend towards a decrease in consumer activity and a possible transition to a market decline will intensify soon due to the rise in the cost of loans for businesses and consumers. In this case a significant state support will be required to maintain volumes and further market growth."

Additional information is available on the AEBRus website.

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