Car production in Russia up by 19% within the first five months of 2018
Car production in Russia has increased by 19,1% year-on-year within the first five months of 2018. According to ASM Holding data, 703,9 thousand units transport vehicles (trucks, cars, buses) have been manufactured in Russia within the January-May 2018 period.
Passenger cars production has increased by 20,9% y/y during the aforementioned period, with 632,0 thousand units. The production of foreign brand cars in Russia went up 19,9% to 470,9 thousand vehicles.
LCV production has also grown in the same period, by 5,6% to 43,8 thousand units.
Truck production, including light trucks, has risen by 5,0% within January-May period of 2018, amounting to 57,0 thousand units. The output of foreign brand trucks in Russia went up 41,6% to 11,0 thousand units.
Bus production, including microbuses, has increased by 4,7% during the aforementioned period, with 14,9 thousand units. The output of foreign brand buses in Russia went down -6,1% to 3,5 thousand units.
This significant growth of the Russian automotive industry ensures the sustainable success of the industry, achieved in 2017, when 1,551,293 cars were produced in Russia.
Not to forget is the fact that the Russian government is actively promoting the car industry with different initiatives and programs. The special promotion programs "My First Car" and "Family Car" were quite successful according to the Ministry of Industry and Trade. The ministry had allocated € 102 million to boost the sale of cars. Thanks to the subsidies, the dealers managed sold around 118,000 vehicles between January and May.