Automobiles News

Production of Russian automobile industry has dropped by 77%


(MENAFN) Automobile manufacturing in Russia fell 77.4% in September to 23,800 units compared to the same month last year, and is down 3.8% from August, according to figures issued on Wednesday by the Federal State Statistics Service (Rosstat).

From January through September of this year, a total of 349,000 automobiles were produced, which is 65.9% less than the same time in 2021. Cargo vehicle output fell by 33.8% in September to 11,700 units but was up 5.4% from August to 103,400 vehicles.

Analysts believe that Western sanctions are affecting the structure of output. While the industry has been able to increase production of basic commodities, it has encountered problems in high-tech industries. Certain component production has grown, whereas the quantity of completed automobiles has decreased.

Russia’s car sector is strongly reliant on foreign investment and equipment, and it was suffering as a result of worldwide semiconductor shortages. This has been exacerbated by the recent migration of foreign manufacturers due to the Ukraine war.

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