Car production in Russia fell 62.6% year-on-year to just 369,000 units in the first eight months of the year, according to government data.
Go deeper with GlobalData
The Industry and Trade Ministry figures also showed that the output of foreign-branded cars fell 54.2% on the year to 181,200 vehicles in January–August.
Companies operating under industrial assembly agreements with Russia produced 123,600 cars in the period, down 48.5% on the year. Industrial assembly agreements eliminate or substantially reduce import duties on foreign car components, Prime-Tass noted.
The output of Russian-branded cars fell 68.3% on the year to 187,000 units in the same period.
Russia’s car industry is suffering the effects of a sharp economic recession that has halved the car market this year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
