Rolf has promised to release a "people's" car

Rolf, which previously announced the organization of production of passenger cars under its brand, has already begun work on its own car, and a special group has been allocated for its development. This was reported on March 10 by Autonews with reference to Svetlana Vinogradova, CEO of the holding.

"Work is underway, a special group has been created, and just yesterday there was another meeting. This is a very large and ambitious project, but it is too early to give any specifics. We can definitely say that the car will be assembled here. It will be, as they say, a people's car, not a premium one," Vinogradova said.

She promised to share more specific information about the car by the end of 2025.

Zhduny brought down the car market: sales of new cars fell by a quarter

Expensive loans and the expectation of brands returning to Russia have reduced demand for cars

In October last year, the Rolf car dealership announced that it plans to create its own car brand, enter the car rental market, open an auto parts factory and conduct an IPO. Car production should begin at the Serpukhov site, Rolf's owner, Umar Kremlev, said at the time.

Earlier on March 10, the director of development and sales of Avto.<url> Business Daniil Shkurygin explained that one of the main reasons for the decline in new car sales in Russia this winter was the high interest rates on loans. In addition, banks have new responsibilities to create reserves in case of possible risks associated with non-fulfillment of loan obligations by borrowers.