AEB has pushed up its prediction for Russian automobile market in 2015

AEB has pushed up its prediction for Russian automobile market in 2015

RBK – The chairman of Association of European Businesses Car Manufacturers Committee Joerg Schreiber has told during an event in Moscow that 1.7 million automobiles are expected to be sold in the country this year (-34%). This figure is above the previously announced prediction, which was a 36% shrinkage (1.55 million vehicles).

Schreiber has shown the increasing demand in August, following the price mark up announcement made by car manufacturers for the forthcoming days, as the reason behind the enhancement of their prediction. Accordingly, the aforementioned upward tendency will continue for another three months. Schreiber has added that the steepness of the depreciation in ruble has taken everyone by surprise.

Russian ruble had lost 20% of its value in July and August.

As one may remember, new car and LCV sales have shrunk by only 19.4% in Russia in August, according to AEB data. August sales are above the July figure by 5.8%.