July Sales Drop 28% in Russia

Sales of passenger and light-duty commercial vehicles in Russia fell 28% in July compared with the same month in 2014, according to the Moscow-based Assn. of European Businesses.

The drop was the smallest since January's 24% slide. The Russian market shrank 36% in the first half of 2015. The AEB, describing July's results as "almost like a piece of good news," says a government incentive program helped avoid a sharper decline.

Each of Russia's top five brands posted double-digit sales shrinkage in July. Volumes fell sharply for Lada (-25% to 20,900 units), Kia (-13% to 13,300), Hyundai (-15% to 12,300), Renault (-35% to 9,900) and Toyota (-28% to 9,600).

Among luxury marques, July sales plummeted 33% to 2,900 for Mercedes-Benz, and Audi sales fell 23% to 2,000. Volume was unchanged at 2,200 vehicles for BMW. Deliveries rose for Lexus (+5% to 1,700) and Porsche (+19% to 500).