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New car sales in Russia in January-August grew by 21%

Russia

Although demand remains stable, the decline in production as a result of a shortage of electronic components in the global market continues to widen the gap between supply and demand, having a negative impact on sales.

New car sales in Russia in January-August grew by 21%

Sales of new passenger cars and light commercial vehicles (LCV) in Russia in January-August reached 1,067,890 units, which is 21.3% more than in the same period in 2020 and 0.9% higher than January-August of the pre-crisis 2019, according to the Association of European Businesses (AEB).

The AEB is still adhering to the forecast made in June, according to which, by the end of 2021, sales of new passenger cars and light commercial vehicles in Russia may reach 1.756 million units. This projected figure is 9.8% higher than the level of 2020 and practically corresponds to the sales volume in 2019, when car owners purchased more than 1.759 million new cars. At the same time, the AEB said this week that the forecast for 2021 may be adjusted in the last quarter of the year.

Over the past ten years, the AEB recorded the highest level of new car sales in Russia in 2012, when 2.94 million new cars and LCVs were sold in the country. In the next two years, this indicator decreased, and in the period 2015-2020. the annual sales were 1.4-1.8 million vehicles per year.

The top three brands sold on the Russian market of passenger cars and light commercial vehicles include Lada of the Russian plant Avtovaz, Kia and Hyundai. These brands accounted for 23.6%, 13.4% and 11.1% of total sales in January-August, respectively. In addition to them, the list of ten brands most popular with Russian buyers of new cars includes Renault (share - 8.5%), Skoda (6.2%), Volkswagen (6.1%), Toyota (5.8%) , Gas (3.1%), Nissan (3%) and Chery (2%). The AEB statistics for foreign brands takes into account both imported cars and cars assembled in Russia.

As of January 1, 2021, more than 59 million vehicles were registered in Russia, including 45 million passenger cars, 4.19 million light commercial vehicles, 3.77 million trucks, 3.44 million trailers and semitrailers, 2.36 million units of motor vehicles and 410 thousand buses, according to the analytical agency Avtostat.

In August, sales of new cars and LCVs in Russia amounted to 114,130 units. This is 14% lower than in July of this year, and 17% lower than in August 2020 and August 2019, when sales were about the same.

“Although demand remains stable, the decline in production as a result of a shortage of electronic components in the global market continues to widen the gap between supply and demand, having a negative impact on sales. As there are no signs of a quick fix to this problem, we expect sales volatility and further market contraction in the next few months, ”said Thomas Stärzel, Chairman of the AEB Automobile Manufacturers Committee.

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