Those Who Thought the Russian Automotive Industry Would Collapse Are Disappointed: Putin

Russian President Vladimir Putin has spoken about the development of the domestic automotive industry. During a joint live broadcast and press conference, the head of state noted that when foreign brands exited the Russian market, the question arose about developing our own base.

“AvtoVAZ is producing the necessary number of cars, but the more we have, the lower the price will be. Certain costs are associated with the fact that the manufacturer exports imported components in some way, but at a different price,” the president explained.

The main goal is to create and develop our own platforms. Domestic car manufacturers are doing this, but it takes time. The second most important issue is creating our own component base.

“We relied on our so-called partners, and we almost completely lost our automotive production sector. We need to recreate it. The Ministry of Industry and Trade is working on this,” Vladimir Putin emphasized.