BCG: RussiaТs sales of new cars, LCVs to drop by 25Ц37% in 2020 - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

BCG: RussiaТs sales of new cars, LCVs to drop by 25Ц37% in 2020

MOSCOW, Apr 21 (PRIME) Ц RussiaТs sales of new cars and light commercial vehicles (LCVs) will drop by 25Ц37% on the year in 2020 to 1.3Ц1.1 million vehicles due to the coronavirus pandemic, Boston Consulting Group (BCG) said in a report late on Monday.

The forecast says that Russian sales will contract by 110,000Ц118,000 vehicles in April, which will lead to a 25Ц37% slump in the year. Even under the optimistic scenario the sales fall by 19% on the year to 1.4 million in 2020, while in the worst-case scenario it would plummet by 48% to 900,000 vehicles this year.

The most probable scenario for 2021 is contraction in sales of cars by 12Ц18%, with a possible decrease ranging from 3% to 31% depending on the scenario.

Combined sales of cars in Europe, China, and the U.S. may shrink by 10Ц16% to 55.9Ц51.8 million vehicles in 2020 in the best case scenario and by 22Ц38% to 48.2Ц38.2 million in the worst scenario, the agency said.

Eduard Cherkin, director of the automotive department in BCG CIS, said that the current crisis is a unique opportunity for Russian carmakers to catch up with the foreign car giants.

УThe headquarters of foreign car producers are trying to solve problems at the largest markets of the world and paying less attention to Russia at the moment. We have to use this window to prepare for an exit out of the crisis and bring new competitive products to the market fast by ensuring servicing and scaling of sales more efficiently,Ф he said.

It is time to introduce new commercial models of operations, new lifecycle contracts for commercial machines, operational leasing, new subscription models for rent, and so on. The window for exports is also opening up due to the ruble devaluation, and car producers should think about forcing it when the borders are reopened, he added.

End %%md/jst%%

21.04.2020 08:53
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 80.5581 +1.3374 07 jul
USD 71.3409 +0.8410 07 jul
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1247.14 +0.97 18:50 06 jul
micex 2835.18 +1.20 18:50 06 jul
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 199.33 +1.08 19:11 06 jul
lkoh 5462.00 +0.84 19:11 06 jul
rosn 368.10 +0.75 19:11 06 jul
sber 214.19 +1.54 19:11 06 jul
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 81.5075 +1.4250 14:59 06 jul
USDTD 71.6100 +0.1650 17:44 06 jul