66114
Russia New Car Sales Jump 15%
Russia New Car Sales Jump 15%

Russia New Car Sales Jump 15%

Russia New Car Sales Jump 15%

New-car registrations in Russia increased 15% in May, the third consecutive month of higher sales after years of poor sales due to US and EU sanctions.
Registrations rose to 124,990 vehicles, said the Moscow-based Association of European Businesses in Russia (AEB), Automotive News Europe reported on Friday.
The increase in sales is a sign that the market is beginning to emerge from a four-year downturn. Five-month sales are up 5.1% to 577,449 boosted by an increase in locally produced vehicles.
Joerg Schreiber, AEB chairman, said in a statement that "the positive sales trend is carried by a majority of market players."
This was an important enabler for the recovery to turn into a lasting trend, he added.
Sales at market-leader Lada rose 22% in May, while volume at Kia, the country's second most-popular brand, rose by 26%. Third-placed Hyundai jumped 13%. Renault, in fourth place, saw registrations rise 22%, while sales at fifth-ranked Toyota grew 15%.
Among other key automakers, Volkswagen brand sales rose 28%, while Ford's registrations were up 12% and Nissan gained 7%.
AEB has said it expects sales to grow by 4% this year as Russia rebounds from its economic woes. However, recent developments in locally produced vehicles show signs that the country is relying less on foreign imports after previous growth in this sector.

Short URL : https://goo.gl/4PkS9C
  1. https://goo.gl/GIYkem
  • https://goo.gl/oq2jSF
  • https://goo.gl/nEN2xj
  • https://goo.gl/dn1eR7
  • https://goo.gl/d9y3qb

You can also read ...

Iran to Send More Flour to Iraq via Russia Wheat Deal
Iran is negotiating a wheat import deal with Russia that would...
Forex Rates Tumble
The Central Bank of Iran’s measures, namely to issue...
Gov’t Earned 150% More From Tax Than Oil Last Fiscal
The government earned 150% more from tax than from oil in the...
Iran’s currency had lost a quarter of its value in six months, sliding to a record low of 49,000 last week.
Governor of the Central Bank of Iran Valiollah Seif defended...
$660m Allocated to Modernize Irrigation Systems
The government has allocated 31.17 trillion rials ($660...
Lawmakers expressed concerns that the government is becoming increasingly dependent on raising money by issuing debt to cover widening budget deficits.
The government has issued over 300 trillion rials ($6.4...
Parliament Okays Rise in Cigarette Tax
Cigarette tax will increase in the next fiscal year (starting...
Mineral Water Exports Hit $25m
More than 21,000 tons of mineral water worth $25 million were...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus