Russian Federation: Passenger Car Market 2024

Passenger Car Market Size in the Russian Federation

The Russian passenger car market skyrocketed to $X in 2021, surging by 27% against the previous year. Overall, consumption, however, showed a pronounced descent. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Passenger Car Production in the Russian Federation

In value terms, passenger car production surged to $X in 2021 estimated in export price. Over the period under review, production recorded a strong expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 64%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Passenger Car Exports

Exports from the Russian Federation

In 2021, shipments abroad of passenger cars was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a noticeable curtailment. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, passenger car exports soared to $X in 2021. In general, total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -13.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 72% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Belarus (X units), Kazakhstan (X units) and Azerbaijan (X units) were the main destinations of passenger car exports from Russia, together accounting for 81% of total exports. These countries were followed by Uzbekistan, the United Arab Emirates, Armenia, Germany, Kyrgyzstan, Ukraine and Latvia, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +90.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Belarus ($X) and Uzbekistan ($X) appeared to be the largest markets for passenger car exported from Russia worldwide, with a combined 76% share of total exports. These countries were followed by Azerbaijan, Germany, Armenia, Ukraine, the United Arab Emirates, Kyrgyzstan and Latvia, which together accounted for a further 15%.

Among the main countries of destination, Germany, with a CAGR of +98.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average passenger car export price stood at $X per unit in 2021, picking up by 3.2% against the previous year. In general, the export price showed a prominent increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 69% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Latvia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Armenia (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into the Russian Federation

In 2021, imports of passenger cars into Russia surged to X units, with an increase of 39% on 2020. Over the period under review, imports, however, faced a deep contraction. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, passenger car imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a abrupt curtailment. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and Belarus (X units) were the main suppliers of passenger car imports to Russia, together comprising 58% of total imports.

From 2012 to 2021, the biggest increases were recorded for Belarus (with a CAGR of +115.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car suppliers to Russia were Japan ($X), Germany ($X) and the United States ($X), together comprising 54% of total imports. China, Slovakia, the UK, Belarus, Mexico, Spain, South Korea, Turkey, the Czech Republic and Uzbekistan lagged somewhat behind, together comprising a further 34%.

Belarus, with a CAGR of +103.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average passenger car import price stood at $X per unit in 2021, surging by 5.7% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 25%. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Belarus ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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