Key Market Indicators
**Russian Car Registrations to Surpass 1.3 Million by 2028** MOSCOW, Oct. 10 — Russian car registrations are projected to reach approximately 1.37 million units by 2028, up from around 1.04 million units in 2023. This marks a compound annual growth rate (CAGR) of 4.4% year-on-year. Despite this growth, the demand for cars in Russia has seen a decline of 8.4% annually since 2010. In 2023, Russia ranked 24th globally in car registrations, with Switzerland leading slightly ahead at 1.04 million units. Following Switzerland, Indonesia, Austria, and Belgium secured the second, third, and fourth positions, respectively. **Russian Car Production on a Steady Rise** In parallel, Russian car production is set to hit nearly 1.67 million units by 2028, up from about 1.57 million units in 2023. This represents a modest CAGR of 0.9% year-on-year. Since 2002, the country's car supply has seen an incremental increase of 0.1% annually. In 2023, Russia ranked 10th in global car production, with France slightly ahead at 1.57 million units. Japan, Germany, and India occupied the second, third, and fourth spots respectively in the production ranking.
