Car sales in Russia may fall by 30% amid crisis

Car sales in Russia may fall by 30% amid crisis
# 29 April 2020 17:31 (UTC +04:00)

Car sales in Russia in 2020 amid the coronavirus pandemic and lower oil prices could fall by 30% to 1.14 mln cars, according to a study by consulting company PwC, APA reports citing TASS. 

The forecast was based on a "stressful" scenario, according to which the restoration and stabilization of oil prices is expected by the Q3 of 2020, and the removal of most of the restrictions on the movement and activities of enterprises - in late spring or early summer. At the same time, online car sales will actively develop in Russia.

Excluding stress factors, the Russian car market will fall by 3.5% to 1.57 mln cars. However, the absence of their influence is unlikely, PwC emphasized.

According to the previously announced forecast of Boston Consulting Group, sales of new cars and LCVs (light commercial vehicles) in Russia in 2020 in a pessimistic scenario may fall to 50% due to the coronavirus pandemic, with an optimistic one - by 20%.

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THE OPERATION IS BEING PERFORMED