Car Sales Stabilize in Russia

Year-on-year demand for passenger and light commercial vehicles in Russia was unchanged at 243,300 units in March, according to the Moscow-based Assn. of European Businesses.

Volume in the first quarter totaled 602,500 units, 2% below January-March 2013.

AEB says last month's results suggest Russia's car market has ended a year-long contraction. It cautions that March results were bolstered by one-time effects. But it says the spike in new-vehicle orders last month should help sales figures this spring.

AEB expects full-year sales in Russia to equal the 2.78 million units sold in 2013.

March sales for market leader Lada fell 8% to 37,100 units. Demand also dropped 8% (to 16,600 units) for second-place Renault. Volume grew for Nissan (+26% to 17,500 units), Kia (+7% to 17,800), Hyundai (+3% to 16,400), Toyota (+20% to 14,800) and Volkswagen (+12% to 14,300).