Russia Electric Car Market (Business Opportunities - Advertising Service)

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Russia Electric Car Market


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Russia Electric Car Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at a 3.7% from 2020 to 2027, reaching US$ XX Mn.



Russia Electric Car Market

Russia Electric Car Market Drivers & Restraints:

The Russian industry of electric cars is progressively developing, thanks to the ever-rising demand for electric cars among the homegrown population & the current government efforts to popularize their use in the state. In the year 2018, Russian Minister of Energy Alexander Novak declared the development of electric cars as one of the most pressing matters for the country in the field of the local automotive industry for the next several years. According to Novak, the share of EVs in the total structure of the car fleet in Russia should reach 8 to 10 percent up to 200,000, by 2025.

Russian car producers’ sales raised by 2.7 percent compared to the year 2018. The progress was driven by sales of Lada passenger vehicles, which improved by 3 percent. However, UAZ passenger vehicle sales confirmed an 8 percent fall compared to 2018 results, yet maintaining its market share at the level of 1 percent. Sales of imported brands assembled in Russia continue to hold the major market segment which accounts for more than 60 percent of all new passenger car sales. Total sales in this segment reduced by 5 percent affecting the dynamics of the entire new passenger car market. Such a drop might have been produced by the 10 percent vehicle price rise in this market segment.

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Target State: All States
Target City : pune
Last Update : Aug 11, 2020
Number of Views: 31
Item  Owner  : pallavi
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2020-10-30 (0.071 sec)