Car Sales in Russia Continue to Shrink

Sales of new cars and light commercial vehicles in Russia, which shrank 9% to 121,300 units in April, declined 15% to 107,700 vehicles last month, the Moscow-based Assn. of European Businesses reports.

AEB notes that the market’s effort to stabilize “remains bumpy.” It says Russia’s economy appears to have passed its low point. But it concedes the numbers haven’t yet turned into consumer confidence and increasing purchase activity.

Russia’s car market began to fade in 2014, when sales fell 10% to 2.49 million units. Last year they plunged 36% to 1.60 million. Volume through the first five months of 2016 totaled 548,100 vehicles, down 15%.