Russian new car sales surge by 68% in early ’24

Russia’s new car market has witnessed a remarkable 68 per cent growth in sales from January to May 2024, reaching nearly 700,000 units, TASS quoted Deputy Industry and Trade Minister Albert Karimov as saying at the St. Petersburg International Economic Forum (SPIEF) on Thursday.

The breakdown of sales includes 591,000 passenger cars (an increase of 82 per cent), 50,100 light commercial vehicles (up 45 per cent), 48,800 trucks (up 0.5 per cent), and 9,100 buses (up 19 per cent).

For May, the figures stood at 146,300 new cars sold, marking a 58 per cent year-on-year increase, opposed to a 9 per cent decline from the previous month.

This included 126,000 passenger cars (up 75 per cent year-on-year), 9,700 light commercial vehicles (up 25 per cent), 9,200 trucks (down 17 per cent), and 1,400 buses (down 11 per cent).