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AEB Cuts Russia Sales Forecast After June Sales Drop 13%
Passenger car and light commercial vehicle sales in Russia will fall 10% to 1.44 million units this year, according to a downwardly revised estimate from the Moscow-based Assn. of European Businesses.
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Passenger car and light commercial vehicle sales in Russia will fall 10% to 1.44 million units this year, according to a downwardly revised estimate from the Moscow-based Assn. of European Businesses.
AEB previously expected 5% shrinkage to 1.53 million units this year. The Russian market dropped 10% to 2.49 million in 2014 and 36% to 1.60 million in 2015.
The group reports sales in June declined 13% to 122,600 vehicles. Deliveries through the first six months totaled 672,100 units, down 14% from the same period in 2015. AEB anticipates sales shrinkage in the second half will narrow to an average rate of 6%-7%.
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