AvtoVAZ Predicted A Fall In The Car Market In 2020

Representatives of AvtoVAZ, the largest Russian automaker, believe that the market for new cars will continue to decline in 2020. Auto.ru Magazine learned about this at the company's press conference dedicated to the results of 2019.

• AvtoVAZ predicts that by the end of 2019 the market will stop at 1.76 million new cars, which is 2 percent less than in 2018.
• In 2020, the drop will be 3.4 percent from the current level: about 1.7 million cars will be sold.
• At the same time, AvtoVAZ reported an increase in sales of its cars at the end of the past year: 362,356 cars sold (plus 0.6 percent to the result of 2018).
• The brand's share in the passenger car segment rose to an 8-year record of 21.7% (plus 1.1 points). In total, among cars and light commercial vehicles, the brand occupies 20.6% of the market (plus 0.6 points).

Olivier Morne, executive vice president of sales and marketing at the auto giant, believes that sales will be highly dependent on government support. It is known that the entire Lad model range (with the exception of the top-end VestSport) is covered by the First Car and Family Car programs, which compensate for 10% of the cost of the car when buying on credit.