AEB: Car, LCV sales in Russia fall 42% in April

MOSCOW, May 13 (PRIME) -- The sales of cars and light commercial vehicles (LCV) in Russia fell 41.5% on the year to 132,456 in April, the Association of European Businesses (AEB) said in a statement Wednesday.

“With 132,000 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 (136,000 units).The similarity to 2009, the year of the Lehman crisis, demonstrates the severity of the present situation,” CEO Joerg Schreiber said, as quoted in the statement.

He said that the recent government’s response to the market contraction will cushion the deeper fall, and the year-on-year sales will not fall further significantly in the upcoming months, he said.

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