New car sales surging in Russia in 9M 2023, Industry and Trade Ministry reports
MOSCOW, October 4. /TASS/. New car sales in Russia jumped 49% year on year in the period January-September 2023 to reach almost 906,000 units sold, the Russian Industry and Trade Ministry said, citing data from the Passport Industrial Consulting firm.
"In January-September 2023, the market for new motor vehicles (up to three years old) stood at 905,926 units (+49% versus the same period in 2022 [when] 607,537 units [were sold]). The share of domestically produced motor vehicles is about 50%," the ministry noted.
The new car market amounted to 718,900 units in the reporting period, up 48% in annual terms. Light commercial vehicle sales gained 27% over the first nine months of 2023 to reach 70,700 units. The market skyrocketed by fully 85% in the truck segment to 103,300 units sold, and saw healthy 26% growth in the bus segment to 13,000 units sold.
Electric vehicle (EV) sales expanded by 2.1 times in January-September 2023 to total 12,200 units sold, including 1,900 EVs manufactured in Russia. The percentage of imported vehicles in the EV segment held constant at the level of 85%, the ministry noted.
