26.11.2020 / New LCV sales are expected to grow in 2021

Russian Automotive Market Research updated the «LCV market forecast for 2020-2025».

Based on the analysis of LCV sales results* taking into account legal and macroeconomic factors, the LCV sales and production forecast for 2020-2025 was prepared. The report also covers sales of new and used light commercial vehicles, market revenue, price dynamics, production and dealer networks.

New! New LCV market revenue forecast for 2020-2025.

Under the baseline scenario of the RAMR forecast, in 2020 new LCV sales will fall by 13.3% to 102.94 thousand units. Decline in the new LCV sales is caused by the downturn in the economy because of introduction of quarantine COVID-19 measures, rising prices for new vehicles related to significant weakening of the ruble, reduction in LCV consumer industries (retail, wholesale trade and other).

New LCV sales are expected to grow by 3.8%-7.8% in 2021. Companies will partially adapt to the increased prices for new vehicles and will resume updating their fleets. In addition, the positive dynamics of a number of macroeconomic indicators and extension of state support of the automotive market can stimulate sales growth.

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* Vehicles with GVW of up to 6 tons inclusive, including pickups

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