New car sales in Russia expected to drop at least 50% in 2022 – AEB, Auto News, ET Auto

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Last year, new car sales were 1.67 million units, up 4.3% year-on-year.

New car sales in Russia are expected to fall by at least 50% in 2022 to around 0.8 million units, the Association of European Businesses (AEB) said on Wednesday, as the Russian auto market grapples with supply problems.

Clarity on the supply will likely come later this year, said Alexey Kalitsev, chairman of the AEB automakers committee, who doesn’t expect much improvement in the second quarter.

“If we have a positive scenario and start producing, the market could be between 0.8 and 0.85 (million units),” Kalitsev, who also heads Hyundai Motor CIS, said. Hyundai’s national sales company in Russia.

“In essence, it’s about a 50% drop. If the resumption of production comes later, for example in the third quarter, the market will be even smaller respectively,” he said.

Last year, new car sales were 1.67 million units, up 4.3% year-on-year.

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As for the rest of America, millions of people feel increasingly excluded from the new vehicle market. Instead, they compete for a reduced supply of used cars, especially the smaller, cheaper and more fuel-efficient ones. Soaring prices at the pump since Russia’s invasion of Ukraine have only intensified their urge to cut costs.

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