PwC expects sales of new cars in Russia to fall 30% in 2020

MOSCOW, Apr 29 (PRIME) -- Consulting firm PricewaterhouseCoopers (PwC) has forecasted sales of new cars in Russia to fall 30% to 1.142 million units in 2020 in a stress scenario, the company said in an analytical report on Wednesday.

The scenario without stress factors for 2020 encompasses a decline in sales by 3.7% to 1.57 million units, the report said.

In 2019, Russia’s car market fell 2.3% to 1.6 million units, PwC said.

In the stress scenario, sales of cars made by national producers will fall almost 30% to 260,000 vehicles, while sales of foreign cars assembled in Russia will decrease 40% to 687,000 units, and sales of imported cars will fall 30% to 195,000 units.

Without stress factors, sales of cars made by national producers are projected to decrease 3.8% to 357,000 units, sales of foreign cars assembled in Russia are also to fall 3.8% to 945,000 units, and sales of imported cars are to decrease 3.6% to 268,000 units.

PwC also projects that sales of new cars in Russia will grow by an average of 2.6% per year over the next five years and will reach 1.83 million units in 2026.

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