New car market in Russia: January, 2024 figures are released

According to the AEB Automobile Manufacturers Committee, total sales of new cars and light commercial vehicles in January 2024 amounted to 65,200 units without taking into account alternative supply channels and about 83,000 units including them. These figures are confirmed by sales data of new cars from PPC LLC - 82,671 units. The difference in numbers is due to additional sales through alternative channels.

Alexey Kalitsev, Chairman of the Automobile Manufacturers Committee, comments: “Sales growth in January 2024 was 64% compared to the same period last year. Market dynamics were influenced by ongoing adaptation to internal and external factors. One of these factors is market saturation due to high levels of inventory concentrated in the crossover segment. Also, the growth figures are driven by the low base of January last year. Compared to December 2023, there is a slowdown, which is typical for January, since traditionally in December contracting is more dynamic due to the upcoming holidays. It is obvious that the impact of a significant increase in the key rate, disposal fee and other factors continues, that’s why many customers are postponing the purchase of a new car. To further maintain the growing trend, it is necessary to strengthen measures to support consumer demand both from dealers and manufacturers, and at the state level as well. In February, we will be able to assess the development trends of the automotive market with greater accuracy.”