OREANDA-NEWS  The auto industry has become the most unprofitable industry in Russia due to sanctions. This is reported by lenta.ru with reference to a study by the Center for Macroeconomic Analysis and Short-term Forecasting (CMACP).

"It is necessary to point out a number of significant negative aspects of the industry features of profitability dynamics. Firstly, the automotive industry was among the deep outsiders, where profitability was -11%, falling by 17 percentage points compared to the pre—crisis period," the report says.

In addition to the automotive industry, the outsiders include the woodworking industry, the production of computers, as well as the production of finished metal products.

In January, the Association of European Businesses (AEB) predicted the growth of the Russian car market in 2023 by 12%, up to 770 thousand cars sold. In Russia in 2022, car sales fell by 58.8% compared to 2021, to 687 thousand units.

Earlier it was reported that in Russia, prices for summer tires in the second quarter of 2023 decreased by 22% compared to the same period in 2022.