Car Sales in Russia Fall 8%

Sales of new passenger vehicles and light commercial vehicles in Russia dropped to 234,500 units in October from 254,000 a year earlier, says the Moscow-based Assn. of European Businesses.

Sales in January-October totaled 2.28 million units, down 7% from the same period in 2012. Volumes have declined year-on-year for the past eight months.

AEB says Russia's auto market remains weak and is unlikely to stabilize until sometime after 2013.

Lada remains Russia's top-selling brand, but demand for its cars plunged 25% to 37,500 units in October. Volume rose 9% to 18,400 units for second-place Renault, 5% to 17,600 units for third-place Kia and 8% to 15,800 units for fourth-place Hyundai.