Russian vehicle market has shrunk by 12% in May

Russian vehicle market has shrunk by 12% in May

RusAutoNews.Com – According to Association of European Business (AEB) data, the Russian new automobile and light commercial vehicle market has shrunk by 12% in May, with 201,487 vehicles. Thereby, the number of cars and LCVs sold in Russia within the first five months of the year has reached 1,030,533 (-6%).

The president of AEB Car Manufacturers Committee: Joerg Schreiber has made the following comment on the sales figures: “In May, we see a continuation of the weak sales trend broadly anticipated for the whole second quarter of the year. Overall market dynamics in April-May are very similar to the same period last year,marking two consecutive years of sales decline. To put things in perspective: In the record year 2012, combined sales in the April-May period exceeded current market performance by 19%. Industry consensus is there are no reasons to believe in fundamental trend reversal any time soon. The best scenario under the given circumstances appears to be the absence of a further trend deterioration. June shall give us a clue about where the market is headed moving into the 2nd half of the year”.

Detailed market figues: AEB Press-Release