Russian Car Sales Dip 18%
Russian Car Sales Dip 18%

Russian Car Sales Dip 18%

Russian Car Sales Dip 18%

New-car sales in Russia fell 18% to 113,749 in August, after a 17% fall in July, the Association of European Businesses (AEB) lobby group said.
“August was unable to break the downward trend but registrations have stopped undercutting the former historical low levels reached in 2009,” Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee, said in a statement on Thursday, Automotive News Europe reported on September 9.
In July, the AEB downgraded its 2016 full-year market forecast to 1.44 million units, representing a 10.3% fall compared to 2015, from the previously expected 1.53 million units.
Accordingly, through August, sales were down 15% to 895,357 vehicles, the AEB said.
However, Lada, the market’s No. 1 brand, continued to buck the downward trend with its sales up 4% last month. It was buoyed by demand for its Vesta sedan and XRAY crossover, two compact cars developed to rival models from western automakers.
Hyundai, the No. 2 brand, saw its volume fall by 5% in August. Sales at Kia, the No. 3 brand, dropped by 17% over the period, while Renault, the No. 4 brand, fell 7% and Toyota finished among the top five with a 4% fall.
Among other brands, VW sales fell by 7% while VW’s Skoda was one of the few winners as volume rose 6%. Ford sales were down 24% while Chevrolet tumbled 58%.
Caption: Russian carmakers gain on foreign competitors’ losses.


Short URL : http://goo.gl/WWp2jB
  1. http://goo.gl/2nEGIc
  • http://goo.gl/Lkto45
  • http://goo.gl/rMViIy
  • http://goo.gl/F2b5eb
  • http://goo.gl/8s8seZ

You can also read ...

First Vice President Es'haq Jahangiri on Monday officially...
Exporters and even local traders say they have put everything on hold for now until the dust settles on the new normal.
The foreign exchange market recently went in a frenzy, with...
Jahangiri officially notified the process of repatriation that obligates exporters to return 95% of their currency yields.
When President Hassan Rouhani’s administration decided to...
Gov’t Weighing Impact of Forex Measures on Trade
The government is assessing the effect of unified exchange...
Snapp, Iran’s First Unicorn Startup?
The widely used ride-hailing application Snapp will pursue new...
Iran Business Environment Improves
Iran’s National Business Environment Index improved slightly...
GM has sought wage concessions from its labor union as well as government funding and incentives to save its remaining three South Korean factories.
General Motors Co’s South Korean unit on Monday said it has...
Subsidized Currency for Specified Imports
The head of Management and Planning Organization has presented...