Light Vehicle Sales in Russia Slip 3%

Sales of passenger car and light commercial vehicles in Russia declined to 148,300 units in April from 152,400 vehicles a year ago, says the Moscow-based Assn. of European Businesses.

Volume through the first four months of the year totaled 539,900 units, down 1% from the same period in 2018. The market grew 13% in calendar 2018 and 12% in 2017.

Analysts attribute this year’s slowdown to slumping consumer confidence and a 2-point increase in taxes on new vehicles that took effect in January.

April sales for Russia’s top four carmakers advanced for Lada (+5% to 32,300 units), Kia (+1% to 19,800) and Renault (+5% to 12,500). Hyundai’s deliveries fell 3% to 15,400 cars.