November Car Sales in Russia Plunge 43%

Sales of cars and light commercial vehicles in Russia sagged to 131,600 units in November from 229,400 in the same month last year, the Moscow-based Assn. of European Businesses reports.

The trade group notes that this year’s volume compares with unusually high sales a year ago when the weakening ruble triggered a car-buying spree among customers eager to purchase before vehicle prices rose. AEB predicts a similarly gloomy year-on-year result for December.

Last year’s Russian car market shrank 10% to 2.49 million units. Demand plummeted another 35% to 1.45 million vehicles through the first 11 months of 2015.

Every major brand posted dramatic losses in November, led by sharp declines for the market’s top four sellers. Volumes dropped for Lada (-29% to 21,600 units), Hyundai (-7% to 15,100), Kia (-32% to 14,100) and Renault (-46% to 10,300).