Car prices in Russia will decrease gradually during 2022, Denis Manturov assured
The car market in Russia is stabilizing. This was stated by the Minister of Industry and Trade of Russia Denis Manturov.
“Now the price, on the contrary, is stabilizing, it has not decreased significantly, because there is inertia regarding the purchased materials, raw materials and components. If we recall the rate that was in February and compare it with today’s, it differs significantly, by a factor of two. Therefore, in order not to incur losses, companies will smoothly “stretch” the price change throughout the year, taking into account the gradual recovery of the market,” Denis Manturov said in an interview with RIA Novosti.
In his opinion, companies will have to reduce prices, because if they try to keep them “to the last”, then the consumer simply will not buy cars. He stressed that even measures had to be taken to support demand in order to mitigate the period of adaptation of companies to market demands. “To make it easier for the consumer and the manufacturer to be able to adapt in this situation,” Manturov explained.
Western automakers left the Russian market after the start special operations on the demilitarization and denazification of Ukraine, which led to an increase in the price of cars. After that, Rosstat announced that the production of passenger cars in Russia reduced by 85%. Russian President Vladimir Putin called for lower car prices in the Russian Federation. Cabinet allocated 20 billion rubles to support demand in the automotive market.
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The car market in Russia is stabilizing. This was stated by the Minister of Industry and Trade of Russia Denis Manturov. “Now the price, on the contrary, is stabilizing, it has not decreased significantly, because there is inertia regarding the purchased materials, raw materials and components. If we recall the rate that was in February and compare it with today’s, it differs significantly, by a factor of two. Therefore, in order not to incur losses, companies will smoothly “stretch” the price change throughout the year, taking into account the gradual recovery of the market,” Denis Manturov said in an interview with RIA Novosti. In his opinion, companies will have to reduce prices, because if they try to keep them “to the last”, then the consumer simply will not buy cars. He stressed that even measures had to be taken to support demand in order to mitigate the period of adaptation of companies to market demands. “To make it easier for the consumer and the manufacturer to be able to adapt in this situation,” Manturov explained. Western automakers left the Russian market after the start of a special operation to demilitarize and denazify Ukraine, which led to an increase in the price of cars. After that, Rosstat said that the production of passenger cars in Russia decreased by 85%. Russian President Vladimir Putin called for a reduction in car prices in Russia. The Cabinet of Ministers allocated 20 billion rubles to support demand in the automotive market.