The Ministry of Industry and Trade of Russia expects a sharp decline in sales of new cars in the country by the end of 2025, said the head of the department, Anton Alikhanov.
He admitted that the total sales of new cars for 12 months could fall by 23-30% compared to last year's figure. Given the various government support programs in the domestic market, a sharper drop in sales is not expected.
Alikhanov clarified that much will depend on the dynamics of the key rate of the Central Bank, which currently stands at 18% per annum.
Against this background, it would be premature to make accurate forecasts for car sales in Russia, "since there are still four months ahead."
Auto experts attribute the negative dynamics to a number of factors, including a decrease in the availability of car loans, an increase in the utilization fee, and a negative effect from the tight monetary policy of the Central Bank.
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