Russian vehicle market has shrunk by 23% in July

Russian vehicle market has shrunk by 23% in July

RusAutoNews.Com – According to Association of European Businesses (AEB) data, 180,767 new cars and light commercial vehicles have been sold in Russia in July 2014. This figure is equivalent to a 22.9% decline, compared to last July.

With the addition of July sales, the number of cars and LCVs sold in the country since the beginning of the year has reached 1,410,606 (-9.9%).

Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee commented: “Unfortunately, the contraction of the automotive market continues, picking up speed in July. The overall trend is worrisome, and unlikely to improve fundamentally any time soon. Of course, the Moscow Motor Show set to open at the end of August should have a stimulating effect on car purchases, especially in the usually stronger autumn season. In any case, this is how it normally works. But what has been normal this year so far?”

The detailed market figures: AEB Press-Release.