New car market in Russia: September 2024 figures are released

According to the AEB Automobile Manufacturers' Committee, total sales of new passenger cars and light commercial vehicles in September 2024 amounted to 151,491 units.

According to PPC JSC, sales of new cars in September amounted to 154,741 units, which is 32,9% more than in September 2023.

Sales for the first nine months of 2024 exceeded sales for the same period in 2023 by 57,6% and amounted to more than 1.2 million vehicles.

Chairman of the Automobile Manufacturers Committee, Alexey Kalitsev comments:
“As the Committee expected, sales of new cars and light commercial vehicles kept on growing in September. As forecasted, this is largely due to the expectation of price increases amid changes in disposal fee rates and an increase in the key rate. A record August was followed by a very successful September, which results significantly exceeded last year's figures.
However, despite the success, overall sales in the third quarter did not go beyond the sales volume in the second quarter of this year. This may indicate that we are approaching a limitation of the market's growth potential due to a decrease in purchasing power and the satisfaction of deferred demand from consumers. Most likely, the positive dynamics will continue in the coming months, but will not be as rapid.
The results of 9 months demonstrate that, with a high degree of probability, by the end of 2024 the market will achieve higher figures than the Committee forecasted earlier.
To ensure further market development, government support for demand and local production will be required."

Additional information is available on the AEBRus website.

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