Russian new automobile and LCV market has shrunk by 37.6% in May

Russian new automobile and LCV market has shrunk by 37.6% in May

RusAutoNews.Com – According to Association of European Businesses (AEB) data, 125,801 new cars and light commercial vehicles have been sold in Russia in May 2015 (-37.6%). Thereby, the number of vehicles sold within the first five months of the year has reached 641,933 (-37.7%).

Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee commented: “On the surface, no visual improvement in May vs.the weak sales result in preceding months since the beginning of the year. At the same time, general customer activity is undergoing a mild re-activation, thanks to a gradual reduction in bank interest rates and new car prices supported by a more robust Ruble exchange rate. This relative improvement is unlikely to bring about a fundamental turnaround for the market, but should help to slow down the pace of year-on-year sales decline in the coming weeks and months.

The AEB is planning to update its full-year forecast for the market of PC and LCV next month together with sales result for June”.

Detailed sales figures: AEB Press-Release