Russian new car and LCV market has shrunk by 41.5% in April

Russian new car and LCV market has shrunk by 41.5% in April

RusAutoNews.Com – According to Association of European Businesses data, 132,456 new cars and light commercial vehicles have been sold in Russia in April. This is equivalent to a 41.5% year-on-year decline. The sales figure for the first four months of 2015 is 516,135 (-37.7%).

Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee commented: “With 132 thousand new vehicle registrations, total market sales in April mark a new low point in the AEB sales history over the past 10 years. Only in 2009 did we record a similarly weak but slightly better result for this month (136 thousand units). The similarity to 2009, the year of the Lehman crisis, demonstrates the severity of the present situation. The dynamics of the current crisis however are different, last not least this time the government responded much earlier with selective countermeasures meant to avoid an even deeper fall. Therefore, we do not expect YoY market performance to deteriorate much further, rather we foresee a gradual flattening of the negative trend in the coming months”.

Detailed market figues: AEB Press-Release