AEB: Russia’s new car, LCV sales fall 0.5% to 137,517 in August

MOSCOW, Sep 4 (PRIME) -- Russia’s sales of new light cars and light commercial vehicles (LCVs) fell by 0.5% on the year to 137,517 in August, the Association of European Businesses (AEB) said on Friday.

In January–August, sales of new cars and LCVs decreased 16.9% to 1.059 million.

Sales of Lada cars of Russia’s largest carmaker AvtoVAZ decreased by 5% to 28,621 vehicles in August and by 18% to 192,397 vehicles in January–August.

“After volatile market developments since the beginning of the year, the signs of recovery last month seem to be over already with flat new vehicle sales in August of -0,5% versus previous year. Traditionally, this summer month is not very active, but a further weakening ruble could have stimulated continuation of growth,” the AEB said quoting Thomas Staertzel, chairman of the AEB Automobile Manufacturers Committee.

“Nevertheless, the decrease of 16.9% year-on-year August is still better than AEB 2020 forecast of -23.9%. With the state support measures September will provide a more clear indication on the situation of the Russian automotive market and its development toward the year-end.”

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