Economy, Auto

Russia Car Market Rebounds

Russia Car Market ReboundsRussia Car Market Rebounds

New-car sales in Russia rose 6.9% to 129,476 in March as the market’s rebound gathered momentum after four years of falling demand. Registration increased to 129,476, according to data from the Association of European Businesses in Russia (AEB), Reuters reported. Sales at market leader Lada rose 7% as the brand continued to benefit from demand for two new compact models, the Vesta sedan and X-ray crossover. Volume at Kia, the country’s No. 2 brand by sales, increased 32%, while third-placed Hyundai’s sales rose 12%. Renault, at number 4, saw registrations rise 19%, while sales at VW brand were up 21%, pushing Toyota from the fifth-ranked slot. Volume at the Japanese automaker slipped 12%. Among other key automakers, Ford’s registrations were up 7%, while Nissan rose 11%.

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