Car Sales in Russia Plunge 43%

Deliveries of passenger cars and light commercial vehicles in Russia plummeted to 139,900 units last month from 243,300 units in March 2014, the Moscow-based Assn. of European Businesses reports.

AEB describes March's 43% decline as "bad" but "not much worse than expected." The group expects the market to stabilize "sooner or later" but acknowledges that point has not yet been reached.

March sales by market leader Lada dropped 26% to 27,400 units and were down 25% for the year to date.

The market's top nine brands all reported double-digit declines in March. Sales fell sharply at Hyundai (-15% to 13,900), Kia (-32% to 12,100), Toyota (-34% to 9,700), Renault (-43% to 9,500), Nissan (-51% to 8,600), Volkswagen (-57% to 6,200), Skoda (-41% to 4,600) and GAZ LCV (-32% to 4,300).