The production of vehicles and equipment in Russia decreased almost by 45% in 2022

Data from the Institute of Comprehensive Strategic Studies (IKSD) indicates a drop in transportation and equipment production in Russia last year by 44.7%. This was the driver of the decrease in industrial production in regions with a high share of car industry such as Kaluga, Kaliningrad, Tver and Yaroslavl regions. In total, reduction of the indicator in industry mainly processing was recorded in 37 subjects.

This statistical data differs significantly from the recent statements by Vladimir Putin in Ulan-Ude, where the President of Russia stated that international sanctions “led to the benefit of the country and economy”. IKSD research emphasizes that the sector is unevenly adapting to new conditions. It is noted that it cannot be ruled out that the situation of industries which showed high results in 2022 will change this year if sanctions are tightened. Earlier, Deputy Head of Minpromtorg RF Albert Karimov estimated a 60% reduction in all segments of car production in Russia in 2022 compared to 2021.