Light Vehicle Sales Growth Stalls in Russia

Automakers sold 240,300 passenger and light commercial vehicles in Russia last month compared with 239,400 units in November 2011, the Moscow-based Assn. of European Businesses reports.

November was the first month in two years that the country's auto demand has flattened year over year, according to the AEB. The group doesn't expect a quick return to growth in coming months.

Analysts say rising interest rates and Russia's slowing economic growth are discouraging consumers.

Sales by brand in Russia last month rose at Lada (+7% to 45,100 vehicles), Renault (+17% to 17,200 units), Chevrolet (+10% to 16,500 units) and Volkswagen (+7% to 14,100 units).

November volume dropped at Hyundai (-15% to 14,700 units) and Nissan (-27% to 10,700 units). Demand was unchanged at Kia (15,100 units), Ford (11,100 units) and Toyota (10,700 units).

Russia's auto sales this year through November have climbed 12% year on year to 2.68 million vehicles.