Russian new car and LCV market has shrunk by 10% in 2014

Russian new car and LCV market has shrunk by 10% in 2014

A1Perform – According to Association of European Businesses (AEB) data, 2,491,404 new cars and light commercial vehicles have been sold in Russia in 2014. This is equivalent to a 10.3% decline, year-on-year. All of the ten most popular models have been manufactured within the country.

December vehicle sales figure is 270,653 (+2.4%).

Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee commented: “2014 ended with a strong finish, but with a cumulative volume loss of 10% remains a disappointing year for the Russian car market. In the face of the looming recession, expectations for 2015 are even lower: Our forecast for the total market of PC and LCV next year is 1,89 million units, equivalent to a 24% contraction of the market on a year-on-year basis”.