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The Russian auto parts market is showing growth

Nov 2, 2021

What is the growth forecast by 2024?

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The Russian auto parts market is showing growth despite a drop in global sales in this segment. According to «Деловой Профиль», the highest rates are observed in Moscow, which accounts for about 20% of the total volume in the country. At the same time, about 35-37% of all auto components are produced on the territory of Russia, while the majority is imported.

“According to the forecast of Roif Expert, by 2024 the demand for auto parts in the country will grow by 25-35%,” notes «Деловой Профиль». - Today, Russian manufacturers of auto parts are actively being squeezed out by spare parts imported from the European Union, since these parts have a higher quality. Russians also buy Turkish, Indian and Chinese spare parts, which turned out to be cheaper than domestic ones".

 

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