Car Sales Drop 10% in Russia

Deliveries of new passenger and light commercial vehicles in Russia fell 10% to 125,900 units in March. It was the market’s smallest decline in 15 months, according to the Moscow-based Assn. of European Businesses.

Sales by market leader Lada fell 19% to 22,300 vehicles last month. Deliveries also fell for Hyundai (-21% to 11,000 units), Renault (-1% to 9,400) and Toyota (-15% to 8,200). March sales rose 1% to 9,400 cars for Kia. Nissan’s volume was unchanged at 8,600.

AEB says the slowdown suggests the Russian car market is “gradually moving closer to hitting bottom.” It notes that a revival will depend on economic stability and continuing government efforts to stimulate market demand.