Vehicle Sales Dip 3% in Russia

Sales of passenger cars and light commercial vehicles in Russia slipped 3% to 126,700 units in October, the smallest year-on-year decline in 22 months, according to the Moscow-based Assn. of European Businesses.

Volume through the first 10 months of 2016 totaled 1.45 million units, down 13% from the same period last year. Sales have dropped more than 40% in the past three years.

AEB says last month's improvement reflects consumer fears that government incentives won’t be renewed when the current program expires at the end of December. Without continuing support from the government, the group warns, “any trend stabilization would be very short-lived.”

October sales, which included imports, improved for seven of Russia’s top 10 sellers. Volumes gained for Lada (+13% to 23,300 units), Kia (+4% to 15,000), Renault (+2% to 11,000), Toyota (+16%), Volkswagen (+1% to 7,000), GAZ commercial vehicles (+15% to 5,600) and UAZ (+1% to 5,300).

Sales last month were flat for Hyundai (14,200 units) and Skoda (4,600). Demand plunged 17% to 5,000 units for Nissan.