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

MOSCOW, Sep 4 (PRIME) -- Russia’s sales of new light cars and light commercial vehicles (LCVs) fell 0.5% on the year to 137,517 units 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 units.

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 during last month seem to be over already with a flat new vehicle sales in August of -0,5% versus previous year. Traditionally, this summer month is not a very active one, but further weakening Ruble could have stimulated a 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,” Staertzel said.

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