The Moscow Times reports that used car imports have jumped 30 percent this year. Citing ASM-Holding as source, the report adds that the increase will put even more pressure on Russia’s domestic makers as the used imports compete with their models on price.
Some 480,000 imported used cars will be sold in Russia by the end of the year, compared to 362,000 in 2001, ASM-Holding deputy general director Alexander Kovrigin said Wednesday at an auto industry conference, according to The Moscow Times.
Kovrigin also said 120,000 new cars will be imported into Russia by the end of the year, an increase of 22.4 percent from 98,000 in 2001.
Local producers are already feeling the effects of the import surge. AvtoVAZ shut down its assembly lines for two weeks in late October early November and is planning a further shutdown later this month. The company is said to have a stockpile of unsold cars approaching 90,000 units.
Other carmakers such as GAZ are also planning to trim production in response to slower sales.
Analysts point out that the Russian car market has grown this year in response to improved economic conditions and should reach around 1.6 million units.