Min: Russia’s car market can recover to pre-pandemic level by 2030

MOSCOW, Jun 13 (PRIME) -- Russia’s market of light cars and lights commercial vehicles (LCVs) should recover to the pre-pandemic level by 2030, Deputy Prime Minister and Industry and Trade Minister Denis Manturov said in an interview with PRIME released on Tuesday ahead of the St. Petersburg International Economic Forum.

“Russia’s car industry develops in line with the car industry strategy until 2035, approved in late 2022. According to the strategy’s targets, in these segments the market will reach its pre-pandemic levels by 2030. So far the parameters are seen as up-to-date,” he said.

The Industry and Trade Ministry supports the idea that the maternity capital could be used to purchase a car, but a final decision should be made by a number of authorities including the Labor and Social Protection Ministry, the minister said.

He also said that foreign companies who have left Russia with a repurchase option, including Renault, Mercedes-Benz, and Nissan, will be able to return, but the conditions will be discussed individually.

The Russian business of Japan’s Toyota, including its car plant in St. Petersburg, has been sold to the Central Scientific Research Automobile and Automotive Engines Institute without a buyback option, he said.

Manturov said that the Industry and Trade Ministry supports restoration of the Oka light car brand, and is ready to consider the issue at once following corresponding proposals of car produces.

He also promised that car producer AvtoVAZ will consider shifting its brand names to Cyrillic symbols.

Manturov said that a debut flight of the completely Russia-produced Sukhoi Superjet New (SSJ New) plane featuring import-substituted components and the PD-8 engine will take place soon, and the plane will be certified until the end of 2023.

He also did not rule out that the plane will be given a Russian name.

“I do not rule out that it will have a certain sense. But be should weigh all the benefits and difficulties that are linked to such a decision,” he said.

Manturov said that Russia has already been designing a long-distance plane, its creation is planned for 2028–2030.

“We have been working with our partners from China on a wide-body long-distance plane. Considering all the new parameters from the West, our two-side project will be adjusted. We will continue to work with our partners, but we will also take action to design our own plane,” he said.

“Yes, (it will be ready) somewhere after 2030, maybe, in 2028–2030, but not earlier,” he added.

Manturov said that Russia is ready to raise exports of mineral fertilizers thanks to strong production capacities of local companies, and constantly looks for new sales markets in the Middle East, Africa, Asia and Latin America.

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