AEB: Russia’s car, LCV sales drop 10% in March to 125,917

MOSCOW, Apr 8 (PRIME) -- Sales of new passenger cars and light commercial vehicles (LCV) in Russia decreased 10% on the year to 125,917 units in March, the Association of European Businesses (AEB) said in a report on Friday.

“March sales result demonstrates that the automotive market as a whole is not in good shape yet although gradually moving closer to hitting a bottom after many months of continuous decline,” Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee, said.

He said that future growth will depend on macroeconomic stability and the government’s incentives for the industry.

Sales of Russia’s largest carmaker AvtoVAZ fell 18.8% on the year to 22.267 vehicles in March, the AEB also said. In January–March, the company’s sales decreased 17% on the year to 56.879 cars.

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