Reshetnikov stated the need to focus on supporting auto production

Minister of Economic Development Maxim Reshetnikov stated the need to focus on supporting auto production, primarily on the production of auto components. He stated this at a plenary meeting in the Federation Council.

“We are ready to discuss the issue of supporting demand, but only at the same time or after we see a real movement of automakers towards saturation with supply, especially with the parameters as they are,” Reshetnikov explained.

According to the minister, due to the acute supply shortage, additional stimulation of demand will lead to higher prices. In his opinion, Russian producers will not be able to satisfy this demand.

In the first six months of 2023, 401,566 new passenger cars were sold in Russia. The greatest contribution to this indicator was made by “AvtoVAZ» – Lada sales during the reporting period increased by 84%. Sales are growing against the backdrop of last year’s ultra-low base. After the start of the special operation, all foreign car manufacturers and importers, with the exception of Chinese brands, stopped work, and many of them completely left Russia. Thus, the basis of the Russian market is now made up of domestic and Chinese vehicles.