Russia's struggling car market is not expected to recover to 2008 pre-crisis levels before 2016, a PricewaterhouseCoopers partner said on Wednesday.
"I believe, that in about five years time the market will return to the sales volumes of 2008, which is around 2.8 million," Stanley Root told reporters.
Between 1.3 million and 1.6 million cars are likely to be sold in Russia this year compared to 1.4 million in 2009, PwC said in a survey published on Wednesday.
Last year, Russia's car market was dealt a heavy blow by the economic downturn as sales plunged 49 percent to 1.46 million cars, according to data from the Association of European Businesses in the Russian Federation.
The AEB expects that the market will reach 1.4 million passenger cars in 2010 and about 1.5 million if sales of light commercial vehicles are included.
"This forecast is quite optimistic and is based on the expectation that the state support measures -- subsidized loans and the scrappage incentive -- will be effective enough. A light revival of the market will come, most likely, in the second half of the year,” Martin Jahn, vice chairman of the AEB Automobile Manufacturers Committee, said in a statement.
PwC said that in dollar terms the market slumped 61 percent to $26.8 billion in 2009.
Reuters contributed to this report