Number of Cars, Light Commercial Vehicles Sold on Russian Market Up 13% in 2018 - AvtoVAZ
The volume of new passenger cars and light commercial vehicles sold on the Russian market grew 13 percent to 1.8 million units in 2018, according to a presentation shown by Jan Ptacek, the executive vice president at Russia's biggest automobile manufacturer, AutoVAZ, on Thursday
"The automobile market in Russia increased by 13 percent in 2018, [with] 1.8 million [new] passenger cars and light commercial vehicles [having been sold]," Ptacek's presentation for reporters read.
Ptacek added that AutoVAZ expected the country's automotive market to grow a further 10 percent in 2019.
"I believe we can forecast a slight market increase this year � within 10 percent, I would say. I can't give a more precise figure as this will depend on many factors, including Currency rate dynamics, possible state support, and so on. But there is a global trend for a slight growth in the Russian market. The economy is growing, there is a need to renew the [vehicle] fleet, and consumer demand is rather high," Ptacek told reporters.
In late December, Russian Industry and Trade Minister Denis Manturov said that he expected the growth of the car market in the country to come out to around 14 percent in 2018.