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Russia’s Car Market Shrinks 42%
Sales of cars and light commercial vehicles in Russia plunged to 132,500 units last month from 226,600 in April 2014, according to the Moscow-based Assn. of European Businesses.
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Sales of cars and light commercial vehicles in Russia plunged to 132,500 units last month from 226,600 in April 2014, according to the Moscow-based Assn. of European Businesses. It was the smallest April results in 10 years.
Sales through the first four months of the year totaled 516,100 vehicles, down 38% from the same period last year.
April sales plummeted for all the top brands: Lada (-38% to 22,900 units), Kia (-22% to 13,900), Hyundai (-14% to 13,700), Renault (-41% to 10,300), Toyota (-54% to 7,000), Nissan (-44% to 6,600), Volkswagen (-47% to 6,200), Chevrolet (-64% to 4,800) and Skoda (-41% to 4,500).
AEB credits the Russian government for acting quickly to avoid even worse results. The group anticipates a "gradual flattening" in year-on-year sales declines over the next several months.
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