Key Market Indicators
**Russian Vehicle Registration Forecasted to Decline by 2028** Russian vehicle registration is projected to fall to approximately 1.55 million units by 2028, down from around 1.71 million units in 2023. This represents a year-on-year compound annual growth rate (CAGR) decline of 1.5%. Since 2010, the Russian market has experienced an annual decrease of 1.2%. In 2023, Russia ranked 26th in global vehicle registration, with Ukraine surpassing it at the same figure of 1.71 million units. Leading the rankings, Canada, China, and Austria held the second, third, and fourth positions, respectively. **Russian Vehicle Production Expected to Rise by 2028** Conversely, Russian vehicle production is anticipated to increase, reaching approximately 2.05 million units by 2028, up from about 1.91 million units in 2023. This growth reflects a year-on-year CAGR of 1.2%. Since 2002, the Russian vehicle supply has risen by 1.5% annually. In 2023, Russia stood at 13th place in global vehicle production, with Thailand slightly ahead at the same figure of 1.91 million units. The United States, Japan, and Germany occupied the second, third, and fourth positions in the production rankings, respectively.
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