AEB: Russia’s car, LCV sales drop 8.5% to 121,272 units in April

MOSCOW, May 12 (PRIME) -- Sales of new passenger cars and light commercial vehicles (LCV) in Russia decreased 8.5% on the year to 121,272 units in April, the Association of European Businesses (AEB) said in a report on Thursday.

In January–April, sales fell 14.7% on the year to 440,583 units.

“Total market performance continues to make steady, although painfully slow progress towards finding its bottom in terms of year-on-year trend. Meanwhile, absolute sales volume has fallen to the lowest level in 10 years, equally in the months of March and April as well as in cumulative result during the first 4 months of the year,” Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee, said.

“Under these circumstances, the decision of the Russian government to extend market stimulation measures is a highly welcome and appropriate measure intended to help the market to get through what is probably the toughest period in its recent history.”

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