The Ministry has predicted the beginning of recovery of the car market in 2017

The Ministry of industry and trade expects the Russian car market will start to recover next year. This statement was made in interview to TV channel “Russia 24” the Minister of industry and trade Denis Manturov.

“Given the fact that we expect this year will be a turning point in terms of preparation of our economy to further growth, we believe that next year will be a gradual recovery of the automotive market. And of course, we expect a gradual increase in the production of our automotive industry”, – quotes the Minister “RIA Novosti”. “So in 2017, I think that will give perspective to the gradual increase in volumes,” he added.

According to the previously announced forecast by the Ministry, the production of cars in Russia in the current year may fall in the range of 5-7%. The Association of European businesses (AEB), in turn, predicted that in 2016 in Russia will be sold about 1.53 million vs 1.6 million cars in 2015. Thus, according to the forecasts of the AEB, the drop in sales could be around 4%, while in 2015 it amounted to 35.7%.

In January 2016, according to AEB, the sales decline in annual terms amounted to 29.1%. The AEB has called these figures “is not the best beginning of the year. “However, the majority of annual forecasts, including our own, have better dynamics, than what we saw in January,” commented then the result of the Chairman of automobile manufacturers Committee of the AEB Joerg Schreiber.