Why is the recovery in demand for cars in Russia is unlikely — expert

Recovery of demand for cars in Russia in the near future is unlikely due to the lack of financial opportunities for some buyers to purchase a car or upgrade a fleet, said Nikolai Sobolev, CEO of Sollers Group, in an interview with TASS.

"It is obvious that now the car market is in a very difficult situation. According to our estimates, a recovery in demand in the near future is unlikely. This is due to the fact that some customers do not have the financial ability to purchase a car or upgrade a fleet in conditions of a high key rate and an increase in the cost of leasing and car loans," he said.

Sobolev added that another part of consumers switched to a savings strategy, preferring to keep funds on deposits rather than invest in large purchases, including cars.

Earlier it was reported that, according to the analytical agency "Autostat", sales of new passenger cars in Russia in the first quarter of 2025 decreased by 25.3% to 246.9 thousand units. In March, the auto market decreased by 45.5%, to 79.8 thousand units.