The anaemic state of Russia’s economy was highlighted earlier this month by full year 2015 figures pointing to the continuing sharp deterioration of the country’s car market, where sales have not fallen but plummeted. Last year, Russia’s car sales slumped by just over a third to just 1.48m units, little more than half the annual sales levels still seen as recently as 2012 when sales peaked at 2.72m units
The ill-effects of the worst economic recession in Russia’s recent history have ripped through its car industry. A sign of the carnage, Russia’s car sales have now fallen like a stone for 33 out of the past 35 months. If that weren’t enough food for thought, judged from the most recent car sales data, the country’s deeply entrenched car sales slump has intensified further during the course of last year, turning an already long-drawn out dry spell into a potentially life-threatening drought.
Dethronement - Hyundai-Kia takes Lada’s domestic car sales crown
Last year saw a particularly galling experience for Russia’s long-fading domestic carmaker Lada.
In its home market, which traditionally made up the way and ahead biggest chunk of its annual sales, Lada lost last year the coveted car leadership position to Korea’s Hyundai-Kia.
As if to add salt to Lada’s wounds, Korea’s all-conquering car sales champion had two models in last year’s Russian top three best-selling cars, whereas only Lada’s tiring Granta made the top
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