Manturov predicted an accelerated recovery of the Russian car market at a Central Bank rate below 15%

The Russian car market is gradually recovering, but higher rates will be noticeable at a key rate below 15%, such an indicator will stimulate sales more rhythmically. This was announced on August 29 by First Deputy Prime Minister Denis Manturov.

"It is very difficult to support the market with budget funds alone. When the key rate is below 15%, it will stimulate the market more rhythmically. But we are already seeing such trends," TASS quoted Manturov as saying.

According to him, the authorities will continue to monitor the market situation, support consumers as much as possible and assist manufacturers. Thus, the decision to defer the payment of the recycling fee gives Russian manufacturers the opportunity to have preferential working capital worth hundreds of billions of rubles without resorting to quite expensive loans, the First Deputy Prime Minister noted.

According to Autostat, 651 thousand new passenger cars were sold in Russia in the first seven months of 2025, which is 23.9% less than in January –July last year.

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According to Denis Manturov, since the beginning of 2025, citizens of Russia have purchased more than 80 thousand cars with state support. This year, more than 24 billion rubles were allocated for preferential programs to support demand for cars in Russia.

On August 26, Sergey Gromak, Vice President for External Relations and Shareholder Relations at AVTOVAZ, said that the reduction of the key rate by the Bank of Russia from 21% to 18% during the year had not yet had a significant impact on car sales. In general, the Russian car market "does not inspire optimism yet," he noted.

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