Russia’s Shrinking Car Sales Rate Slows

Demand for new passenger vehicles in Russia fell 10% to 211,400 units in October, the smallest monthly year-on-year shrinkage since April, according to the Moscow-based Assn. of European businesses.

Sales in the first 10 months of 2014 dropped 13% to 1.99 million vehicles.

Market leader Lada posted a 1% sales gain to 37,800 units in October, its first increase since February 2013. But demand was mostly down for the remainder of the market's top-six brands. Volume fell for Kia (-1% to 17,400), Renault (-9% to 16,700), Hyundai (-3% to 15,400) and Nissan (-2% to 11,900). Toyota sales were unchanged at 12,900 units.