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RUSSIA
Russia slips deeper into hibernation
Car market lurched into reverse and it’s getting worse

Published :Wed, 23 July 2014 09:48:48 GMT
 

Moscow traffic 2012 rain Mercedes

Russia’s car sales slide for 16 out of the past 17 months - June down 14.9% - Ford takes a severe hammering - agony will get worse before it gets better, forecasters say

The trade’s plight in Russia’s recession-gripped new car market is revealing underlined by the grim realisation that new car sales in Eastern Europe’s biggest market have now fallen for sixteen out of the past seventeen months, thus widening the cumulative shortfall at halftime to 7.6 per cent.

-7.6%
Russia car sales slide after 6-months of this year


Signs that things are still getting worse rather than better for Russia’s dejected car dealers, June’s 14.9 per cent sales dive was this year’s steepest decline, dismissing hope that at last the worst was over.

Judged from the comments of industry insiders, there is worse to come. Mr Joerg Schreiber, Chairman of Russia’s AEB Automobile Manufacturers Committee, commenting on June’s vehicle sale performance, said “The [Russian car] market continues its downward trend at an accelerating pace”, adding that “the market weakness has not reached its bottom yet”.

For this crisis-struck year, AEB forecasts combined passenger car and light van sales (Light-Vehicle market) to fall by a third of a million units to some 2.45 million units. 

Compared with the 2.77m light vehicles still sold in Russia during all of last year, that’s a 12 per cent overall drop in this year’s projected sales
...more 


MORE LIKE THIS:


> World Cup fails to put kick into Brazil’s car showroom spending  30 June 2013


> Russia’s previously speeding car sales locomotive stopped in its tracks  06 Feb 2014


> For Brazil’s car titans freewheeling days are finally over  09 Apr 2014


DATA AVAILABLE TO SUBSCRIBERS WITH THIS ARTICLE:
RUSSIA new car sales by manufacturer and marque:  
JUNE 2014 v JUNE 2013
6-MONTHS
2014 v 6-MONTHS
2013

RUSSIA new car sales by TOP SELLING MODEL:  
6-MONTHS 2014 v 6-MONTHS 2013

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