Russia Vehicle Sales Plunged 46% in December

Sales of new cars and light commercial vehicles in Russia crashed to 147,000 units last month from a record 270,600 in December 2015, the Moscow-based Assn. of European Businesses reports.

Full-year sales plummeted 36% to 1.60 million vehicles compared with Russia’s record-high 2.94 million sales in 2012.

Last month’s brutal results saw volumes drop dramatically for Lada (-34% to 23,500 units), Kia (-25% to 15,200), Hyundai (-17% to 12,600), Renault (-38% to 11,900) and Toyota (-36% to 11,200).

Full-year results were equally grim for the market’s five-largest sellers. Demand plunged for Lada (-31% to 269,100 vehicles), Kia (-16% to 163,500), Hyundai (-10% to 161,200), Renault (-38% to120,400) and Toyota (-39% to 98,100).

AEB predicts full-year sales in 2016 will total 1.53 million vehicles, down 5%. The group’s outlook assumes no further government-backed sales incentives.