Russia's passenger car imports hit a 16-year high in September
According to foreign media reports, by the end of September 2024, Russia had imported nearly 147,000 passenger cars, including new and used cars. This data was announced at the AUTOSTAT Operativka conference held during the CarX 2024 automotive industry forum. AUTOSTAT experts pointed out that this is the highest import volume in 16 years. The last time the monthly import volume exceeded this record was in October 2008, when the import volume reached 160,000 vehicles.
New car imports break 12-year record
In September 2024, Russia's new car imports reached 104,200 units, not only exceeding the 89,000 units in August, but also breaking the 100,000 mark for the first time since August 2012, when about 120,000 new cars were imported. As for used cars, September imports also reached 42,700 units, the highest monthly import volume so far in 2024, although it is still lower than the three-year record set in July 2023.
Reasons for the surge in imports: imports before the recycling tax increase
AUTOSTAT experts linked the surge in imports in September to the new recycling tax standards that came into effect on October 1. With the implementation of the new policy, car prices began to rise, so importers are stepping up efforts to import as many vehicles as possible before the new tax takes effect. In the first nine months of 2024, Russia imported a total of 683,000 new passenger cars, a year-on-year increase of 48.5%. But the import volume of used cars was 294,100 units, a year-on-year decrease of 8.3%. As of now, Russia has imported about 1 million passenger cars in 2024.
