According to foreign media reports, the European Association of Automobile Manufacturers (AEB) said that in January this year, Russia's new car sales fell for the seventh consecutive month. Although domestic demand has recovered, the automotive industry continues to be affected by global component shortages. AEB said new car sales in Russia fell 3.7 percent year-on-year to 91,662 units in the month.
Image source: Lada
Thomas Staertzel, the AEB Council of Automobile Manufacturers, said in a statement: "Traditionally, January has been the month when car sales are lower. As predicted, we don't expect a quick recovery this year, but we still hope to change that trend in the second half of the year. ”
AEB said last month that the association expects new car sales in Russia to grow 3.3 percent to 1.72 million units in 2022. In 2021, new car sales in the country increased by 4.3% year-on-year.
In addition to the supply chain crisis affecting the global automotive industry, a number of other factors could also cut off The supply of electronic components in Russia, including logistical challenges, rising material costs, and new restrictions imposed by the United States on Russia. Last year, Affected by a shortage of spare parts, AvtoVAZ, Russia's largest automaker, had to suspend production for several months. Vladimir Bespalov, an analyst at VTB Capital, said the chip shortage could make it difficult for Russian car sales to improve significantly in 2022 and could only be on par with last year's levels.
Russia was one of the world's most promising auto markets until 2014, and foreign automakers were encouraged to build factories there. However, the sharp decline in the ruble and the slowdown in economic growth have led to a long period of market stagnation.
Source: Gestapo Cars
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