Truck sales have declined in Russia during the January-August period

Truck sales have declined in Russia during the January-August period

Kommersant – Truck sales continue declining in Russia, as well as car sales. According to data published by the Ministry of Industry and Commerce, 62,700 trucks have been sold in the country within the January-August period (-16%).

49% of the aforementioned sales belong to domestic brands such as; KAMAZ, Ural and GAZ (30,700 vehicles). The sales of these brands have shrunk by 6.1% within the January-August period, in comparison with the same period of the previous year. The total sales figure of foreign brand trucks manufactured in Russia such as; Volvo, Scania, Fuso etc. is around 6500 (-7%). The shrinkage in the market is most likely related to declining truck imports. The number of imported trucks sold in the country within the aforementioned period is 20,700 (-27.4%). The Russian sales figure of MAZ, imported from Belarus, in particular, is 4700 for the first eight months of the year (-29.3%).

The information sources of Kommersant newspaper state that the shrinkage in the truck market was being expected, due to the high utilisation tax implemented on heavy trucks. “Depreciating ruble effect” and the accumulated stock held by importers from previous prices are other factors behind the shrinkage.

The Ministry of Industry and Commerce predicts this year’s truck sales figure as 92,000 (-23%). According to a more pessimistic scenario, the annual sales figure will remain at 87,000 (-26.7%).

The manufacturers doubt the efficiency of the utilisation programme started in September and the decision to give priority to domestic products in government purchases. The main expectation is on the limitation of the usage period of commercial vehicles.