Yommie
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Russian LCV market will continue to grow in 2024
31.05.24
At the forum of auto business "ComAuto - 2024" deputy head of analytical department of agency "AUTOSTAT" Victor Pushkarev, presenting the forecast of market of commercial vehicles in Russia, separately highlighted factors that influenced on it in 2023 and will remain in effect in 2024.
It is interesting that with challenges slowing down the growth and development of commercial vehicles market (sanctions on automotive components and spare parts, low level of investment in the automotive industry, tough credit and leasing conditions, increased scrappage duty, shortage of skilled labor), the agency's experts still forecast growth in some of its segments in 2024. Thus, they believe that in the market of light commercial vehicles (LCV) at any development of events in the current year will be positive dynamics. In the basic version of forecast, analysts envision growth of 22% up to the sales volume of 110 thousand vehicles, and in the optimistic scenario - 35% (up to 122 thousand vehicles).
And even in the most pessimistic scenario, the market should still show growth (+8% to 98 thousand vehicles). According to Pushkarev, sales in this particular market segment will be stimulated by the growing volume and logistics of road transportation in the country (in 2023, the number of applications increased 1.5 times, and in 2024 it is expected to grow), renewal of school bus and ambulance fleets, recovery and development of DNR, LNR, Zaporizhzhye and Kherson regions. In addition, state support for the automotive industry and the car market will have an impact, with 12.3 billion and 2 billion allocated for this purpose in 2024.

