The Ministry of Industry and Trade announced a twofold reduction in the car market in the country

By the end of the year, market participants predict a further decline in car sales in the country, it may reach 60% by the level of 2021.

According to the head of the Ministry of Industry and Trade, after the March jump by 3-50%, prices for a number of car models began to decline. In some positions, the decrease is 18%, Kommersant notes.

According to the minister, stabilization in the price market mainly concerns passenger cars.

A sharp drop in car sales in the Russian Federation occurred after the start of a military special operation on the territory of Ukraine. Many manufacturers declared it impossible to continue doing business in the Russian Federation and left this segment. Of the 50 previously available car brands, only 15 remain on the Russian market.

In 2021 in 1.66 million cars were sold to Russia. The Association of European Businesses believes that this year sales will not exceed 700 thousand cars.