UPDATE: AEB sees new car, LCV sales in Russia falling 2.1% in 2020

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MOSCOW, Jan 14 (PRIME) -- The Association of European Businesses (AEB) has projected a 2.1% year-on-year decline in sales of new car and light commercial vehicles (LCVs) in Russia to 1.72 million units in 2020, CEO Joerg Schreiber said at a presentation on Tuesday.

“We forecast a further decrease of the market: minus 2.1% to 1.72 million vehicles,” Schreiber said. “Continuation of an uneasy period is expected in 2020. Market participants have reached the ceiling of opportunities for stimulation of demand. There is no certainty that any significant improvement in the environment will happen in 2020.”

In 2019, Russia’s car and LCV sales fell 2.3% on the year to 1.759 million vehicles, he said.

In December, sales rose 2.3% on the year to 179,000 units, according to the presentation.

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