Russia’s vehicle production to surge in ’24

Russia’s motor vehicle production is projected to exceed 950,000 units in 2024, a 31 per cent year-on-year increase, according to Industry and Trade Minister Anton Alikhanov.

Speaking to TASS, Alikhanov noted that this figure is 13 per cent higher than the target outlined in the country’s automotive development strategy for 2024.

In 2023, vehicle production rose by 16 per cent to over 720,000 units, marking significant growth across all segments. The minister highlighted positive dynamics in the sector as a key driver of this expansion.

Attribution: TASS

Subediting: M. S. Salama