Russia revives its automotive industry.

After a sharp decline due to sanctions in 2022, the Russian automotive industry recovered in 2023.

According to Russian Deputy Prime Minister Denis Manturov, the automotive industry recovered rapidly last year following Western sanctions. Specifically, vehicle production reached 720,000 units, a 16% increase compared to 2022.

In 2022, the Russian automotive industry experienced a sharp decline of 67% in production and nearly 60% in sales. These results were even worse than in 2020, when pandemic restrictions forced many dealerships to close for extended periods.

Because the industry relies heavily on foreign investment and equipment, it immediately faced difficulties when international automakers left following Western sanctions. Several American, European, and Japanese automakers withdrew or suspended production or deliveries of components and vehicles to Russia indefinitely.

However, domestic manufacturers have begun to overcome the difficulties. According to Mr. Manturov, government measures aimed at boosting domestic car demand have contributed to the recovery of the industry.

Some of the car models currently being sold by Lada. Photo: Lada

Data from the Russian analytics agency Autostat shows that new car sales in 2023 reached 1.06 million units, a 69% increase compared to the same period in 2022, but still falling short of the 1.51 million units sold in 2021, before the Ukraine conflict broke out. In December, new car sales increased by 110% year-on-year.

Chinese cars are filling the void left by Western competitors. The market share of "Made in China" cars also appears to have peaked at over 56%, while domestic Russian cars are recovering. Lada remains the best-selling brand with a market share of over 30%.

This year, Autostat forecasts sales to increase by 18% to 1.25 million units. In the optimistic scenario, sales could rise by as much as 32% to 1.4 million units. Conversely, the pessimistic scenario predicts a decline to one million units.

According to Autostat head Sergei Tselikov, Chinese and local automakers will meet the growing demand by 2024. "Chinese manufacturers expect to sell up to 2 million cars in Russia, and people want to buy them," he said.

Tselikov added that factories that have been shut down since Western manufacturers left following the Ukraine conflict are also likely to restart operations this year.

Phiên An ( according to RT, Reuters )

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