The Impact of Global Economic Crises on the Development of the Automotive Industry in Russia

Abstract

Introduction. The cyclical nature of the development of the market economy causes the periodic occurrence of crisis phenomena that negatively affect the socio-economic situation in the country and the development of economic sectors. The modern automotive industry, composed of global supply chains, is highly sensitive to the impact of economic crises. Based on the research conducted, the article assesses the impact of the global economic crises of the 21st century on the development of the automotive industry in Russia and identifies the problems and risks of the development of this sector of the economy. Materials and Methods. The study used official national statistics, statistical data from international organizations, data from analytical agencies, public reporting by automotive corporations, as well as regulations governing the development of the Russian automotive industry. The use of the techniques of monographic description, of the abstract and logical approach, system analysis, methods of economic and statistical, comparative analysis made it possible to characterize the dynamics and identify the main trends in the development of the Russian automotive industry under the impact of the global crises of 2008‒2009 and 2020, as well as to identify the key problems and risks of the development of the sector in terms of the impact of the COVID-19 pandemic, which are to be taken into account when elaborating and adjusting strategic programs and plans for the development of the sector. Results. The impact of the global crises of 2008‒2009 and 2020 on the Russian automotive industry has been analyzed. The dynamics and structure of production and sales of motor vehicles in Russia have been studied; the cause-and-effect relationships of changes in the performance of the automotive industry under the impact of economic crises have been revealed; an assessment of the measures of state support for the industry in the crisis periods has been given. Discussion and Conclusion. The current global economic crisis caused by the COVID-19 pandemic has posed new threats to the development of the automotive industry and has made topical the research issues related to the transformations taking place in the sector under the impact of the crisis. The identified imbalances and negative trends in the development of the automotive industry require improving state regulation of its development, as well as implementing effective measures not only to overcome the consequences of the current crisis, but also to counter possible crises in the future.