EconomyAvtotor announced when the automobile market in Russia will...

Avtotor announced when the automobile market in Russia will return to pre-crisis levels

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Car sale at a dealership. archive photo

Head of “Avtotor” Gorbunov: the car market will not return to pre-crisis levels before 2028

MOSCOW, November 22 – RIA Novosti. Valery Gorbunov, chairman of the board of directors of the holding Kaliningrad Avtotor, said in an interview that he expects the Russian auto market to reach pre-crisis levels by 2028 or 2029 at the current pace of recovery in the industry, but a longer decline is possible. with RIA Novosti.

“We believe it will recover, it’s a very ungrateful task to say when. If everything is at least as it is today, maybe by 2028 or 2029 it will be possible to reach pre-crisis indicators. But a longer decline is also possible,” he said, adding to the future of the Russian car market. answered a question about

According to Gorbunov, the Russian automobile industry now needs cooperation. This includes government policy that some of the electronics are made to order by the manufacturer, plastics and petrochemicals by others, castings by others. In general, this cooperation should be reflected in the industry strategy currently being prepared by the Ministry of Industry and Trade of the Russian Federation.

“In terms of localization, it should be a comprehensive program for the development of not only the automotive industry, but the entire industry. Vladimir Ivanovich Shcherbakov (founder and main shareholder of Avtotor – ed.) said 20 years ago that this was wrong. Well, they localized production by 70%: large investments resource that requires painting. It’s been localized, but the car is gone and where is it all?”

According to the Association of European Enterprises, the Russian automobile market last year amounted to 1.6 million cars and light commercial vehicles. At the same time, sales in January-October of this year barely reached just over 500,000.

Autoholding “Avtotor” was founded in 1994 in Kaliningrad. The enterprise became the first in Russia to start the production of cars of foreign brands. Production has been carried out since May 1997, the capacity of the factory is about 250 thousand cars per year. Until the spring of 2022, Avtotor produced mainly models of the German brand BMW, as well as South Korean Kia and Hyundai, at the moment the assembly of cars of these brands is suspended.

Source: Ria

Emma
Emma
I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.

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