The Russian vehicle market is expected to contract significantly this year, showing a sharp decline in customer demand and the broader effect of a slumping economy.In a news release on Thursday, the Association of European Businesses revised its projection for the Russian cars and truck market in 2025, forecasting sales to decrease by 24% to 1.25 million units sold.
The association had previously prepared for a contraction of 15% to 1.4 million cars in 2025.
Analysts at the association said that market growth might resume if the federal government offers assistance, specifically by renewing state programs targeted at improving demand.We likewise anticipate the very first modest cut in the crucial interest rate to add to market stabilization, with further downward modifications likely to reinforce favorable momentum, journalism release said, describing the Central Banks lowering of the crucial interest rate from 21% to 20% in early June.