Russian-made cars rise in price by 5-20% in 2021

TASS Russian News Agency | Dec 24, 2021 at 6:56 PM

MOSCOW, December 24. /TASS/. New cars manufactured in Russia have risen in price by 5-8% in 2021, cars made abroad - by around 20%, Russian Minister of Industry and Trade Denis Manturov said on Friday.

"For example, if we take Russian-made cars, the price growth this year was within 5-8%, and in terms of import, prices there rose by up to 20%," he said in an interview with Rossiya 24 TV channel.

Manturov voiced these estimates while talking about the planned increase in the price level of cars that are subject to an increased transport tax. "We started this work with the Ministry of Finance, realizing that, indeed, today cars, even in the basic configuration, which had not previously belonged to the category of the premium segment, now are part of it due to increasing prices for components. I must say that our colleagues hear and support us our position," the minister added

The Minister added that the shortage of sales of new cars in Russia may persist in the first half of next year. "Today we have a certain shortage of automotive products for consumers, which will probably persist for the first half of next year. This is primarily due to the fact that there is a restriction on the supply of auto components, primarily electronic components - chips," the Minister said, adding "it is possible that in the first half there may still be certain restrictions".

According to him, the results from localizing production of such electronics will be noticeable in 2-2.5 years, but the Ministry of Industry and Trade expects to see stability in the production of chips at enterprises in Southeast Asia next year.

The Ministry of Industry and Trade of the Russian Federation expects an increase in car production in Russia by the end of 2021 by 7%, despite the continuing shortage of semiconductors, Manturov said earlier.

More sources
  • Shortage of cars in Russia will persist in first half of 2022 (TASS Russian News Agency: 2021-12-24 17:41:47+00:00)