AEB: Car Sales in Russia Could Plunge 36% This Year

Sales of new cars and light commercial vehicles in Russia are likely to plummet 36% to 1.55 million in 2015, predicts the Moscow-based Assn. of European Businesses. AEB previously forecast a 25% sales drop this year.

AEB reports sales in June fell 30% to 140,200 units. January-June sales plunged 36% to 782,100 units.

All of Russia's top brands posted double-digit declines in June, led by Lada (-12% to 26,400 units), Kia (-18% to 13,900), Hyundai (-27% to 12,300), Renault (-39% to 10,000), Nissan (-26% to 8,900) and Toyota (-35% to 8,500).

AEB insists that matters "could be much worse" and notes that June's year-on-year decline was smaller than those in February, March, April and May.