30.09.2020 / When will the car market return to growth?

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

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

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

Under the baseline scenario of the RAMR forecast, in 2020 new car sales will decrease by 13.3% and will amount to 1 million 375 thousand units. Decline in new car sales is caused by the downturn in economy because of introduction of quarantine COVID-19 measures, rising prices for new cars connected with a significant weakening of the ruble exchange rate, shortage of popular models, etc.

In 2021, new car sales are expected to show growth from 4.4% to 6.9%. Private and corporate consumers are partially adapting to the increased prices for new cars and will resume to renew their parks. In addition, the positive dynamics of a number of macroeconomic indicators and the extension of state support measures of the automotive market can stimulate sales growth.

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