Russia’s AvtoVaz expects 5% growth in national car market in 2021

 The global car market rebounded from the coronavirus pandemic in early 2021 but the recovery was then hobbled by supply bottlenecks and COVID-19 restrictions.
The global car market rebounded from the coronavirus pandemic in early 2021 but the recovery was then hobbled by supply bottlenecks and COVID-19 restrictions.

MOSCOW: Russian car producer AvtoVaz said on Wednesday it expected the national vehicle market to have grown 5% in 2021, a day before the Association of European Businesses (AEB) is set to publish data on cars sold in the country last year.

Olivier Mornet, president for sales and marketing at AvtoVaz, told reporters the company expected the number of cars sold in Russia to hit 1.68 million, up from 1.6 million in 2020.

AvtoVaz, which is controlled by French carmaker Renault , sold 350,714 cars in Russia last year.

Mornet said he expected the market to see higher sales this year.

“Maybe there will be a small increase (in sales) to 1.75 million vehicles (in 2022),” he said. “This is a baseline forecast. Many factors could affect it.”

The global car market rebounded from the coronavirus pandemic in early 2021 but the recovery was then hobbled by supply bottlenecks and COVID-19 restrictions.

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Fausto Cuevas, head of the Mexican Automotive Industry Association (AMIA), recently forecast Mexico’s auto production would only return to pre-pandemic levels in late 2023 or in 2024.

“It’s been another desperately disappointing year for the car industry as COVID continues to cast a pall over any recovery. Manufacturers continue to battle myriad challenges … above all, the global semiconductor shortage which is decimating supply,” SMMT chief executive Mike Hawes said.

Source: Economic Times

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