Russian Vehicle Market in 2024 grew 44.7%, steadily rebounding from post-war downturn. Chinese brands, including Geely and Changan, secured 6 spots in the Top 10, showing impressive growth.
Market Trend and Outlook
In 2024, Russia’s economy grew by 3.5–4%, driven by war-related demand, but signs of stagnation emerged as labor shortages, high inflation (9.7% in October), and supply chain disruptions took effect. Military spending will rise by 25% in 2025, reaching 13.5 trillion rubles (130 billion euros), keeping defense a key economic driver. However, the war boom is fading, with arms production constrained by labor shortages and reliance on Soviet-era stockpiles and imports from Iran and North Korea. Wage growth (19% in 2024) fueled consumer optimism but also contributed to inflation and a weakened ruble.
The Central Bank raised interest rates to 21%, impacting businesses and the construction sector. To curb deficits, the government is increasing taxes on high earners, corporations, and vehicle imports, but non-military spending is likely to be cut. Meanwhile, Russia’s shrinking workforce, due to demographic decline and low migration, poses long-term economic challenges. The economy remains vulnerable to external shocks, with oil price declines or tougher sanctions potentially triggering a recession. Despite these risks, Russia’s war effort remains sustainable for now, though arms production depends on dwindling Soviet-era reserves and foreign imports.
The Russian EV market grew 98% in 2024, showing impressive growth. Nevertheless, it accounted for less than 1% of total sales, proving that the sector is still in the early stages of developement.
Domestic brand Evolute dominated, up 103.1% and capturing over 90% of the market, with Audi and BMW following in 2nd and 3rd place.
Overall, the Russian vehicle market expanded 44.7% to 1.36 million units, with sales accelerating in the second half of the year.
Looking at cumulative data up to December 2024 brand-wise, Lada dominated with 440,878 sales (+25%). In second place the Chinese Haval -up 1 spot- with 190,176 (+60%) while third is Chery -down 1 spot- with 157,558 (-2.2%).
Geely followed in fourth with with 120,208 (+43.1%) while Gaz ranked in fifth with 73,669 (+31.4%). In sixth place Changan -up 4 spots- with 67,474 sales (+498.9%) with a wide margin over the followers.
UAZ ranked in 7th and sold 59,818 vehicles (+59.9%), followed by Great Wall at 45,939 (+134.5%) and Omoda -down 3 spots- at 38,036 (-15.3%%).Closing the Top 10, Solaris -up 19 spots- ranked in 10th with 25,803 sales.
Looking at the best selling models, the leader was the Lada Granta with sales down 1.7% followed by the Lada Vesta (+134.1%) and the Chevrolet Niva (+29.3%).
Medium-Term Market Trend
Russian automotive industry grew up at an all-time record of 2.92 million units in 2013, and it was among the top 10 in the World.
However, the market was severely hit by Crimea invasion-related sanctions and since 2014 dropped down losing over half of the volume in only three years landing at 1.42 million units in 2016 when the fall ended, to start a progressive recovery to near 1.8 million in the 2019.
The pandemic effects in 2020 reduce sales volume in the range of 1.5 million, but when Russia invaded Ukraine, the 24th of February 2022, the cost to the industry was heavy. In fact, the market lost 58.8% in volume, reaching a total of 686,497 sales. The Vehicle Market in 2023 registered a total of 854,231 sales being up by 24.4%
Tables with sales figures
In the tables below we report sales for All Brands, Top 10 Manufacturers Group and Top 10 Models.
