MOSCOW, Nov 7 (PRIME) -- Russia’s sales of new cars and light commercial vehicles (LCVs) rose 8.2% on the year to 160,400 vehicles in October, the Association of European Businesses (AEB) said in a statement on Wednesday.
In January–October, sales of cars and LCVs rose 14.1% to 1.458 million units.
“Moving into the final quarter of the year, Russian car sales continue to demonstrate robust momentum. This is a pleasant fact, but not a surprise considering the tailwind the whole retail sector is receiving during the countdown for a change in value-added tax (VAT) taxation,” AEB said quoting Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee.
“While for now the market is doing fine, there is a growing concern among its participants about the continuity of retail demand from January, 2019.”
Sales of Russia’s largest carmaker AvtoVAZ grew 12% on the year to 32,005 cars in October and 17% to 291,134 units in January–October.
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