Car Sales in Russia Plunge 29%

Carmakers in Russia delivered 140,900 cars and light commercial vehicles last month compared with 197,200 in September 2014, according to the Moscow-based Assn. of European Businesses. The disappointing results pushes back hopes that the market will stabilize.

Last month's shrinkage compares with declines of 19% in August, 28% in July and 30% in June. AEB expects full-year sales will total 1.57 million units, down 37% year on year.

September sales of market leader Lada plummeted 41% to 21,700 vehicles. Deliveries also fell for Hyundai (-2% to 15,100 units), Renault (-33% to 10,400), Toyota (-45% to 7,100), Volkswagen (-23% to 6,800 and Nissan (-44% to 6,600).

There were two bright spots. Kia sales last month climbed 11% to 16,100 units. Nissan's budget-priced Datsun brand quadrupled sales to 2,600 vehicles.

Demand for luxury vehicles was mixed in September. Sales rose 2% to 2,600 for Audi and doubled to 500 for Porsche. But volumes dropped at Mercedes-Benz (-23% to 3,400), BMW (-11% to 2,100), Lexus (-20% to 1,500) and Land Rover (-38% to 1,100).