Economy, Auto
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Russia New-Car Sales Up 15% in June

Six-month sales are up 6.9% year-on-year.Six-month sales are up 6.9% year-on-year.

New-car registrations in Russia increased 15% in June, the fourth consecutive month of higher sales.

Registrations rose to 141,084 vehicles, the Moscow-based Association of European Businesses in Russia (AEB) said.

The increase is a sign that the market is beginning to emerge from a four-year downturn, Reuters reported.

Six-month sales are up 6.9% year-on-year to reach 718,529, giving a boost to local and foreign car producers alike .

Sales at market leader Lada rose 23% in June, while volume at Kia, the country’s second most popular brand, increased by 31%. Third-placed Hyundai jumped 22%. Renault, the fourth most popular vehicle, saw registrations rise 21%, while sales at fifth-ranked Toyota grew 28%.

Among other key automakers, Volkswagen brand sales rose 18%, while Ford’s registrations were up 24% and Nissan gained 15%.

AEB expects sales to grow by 4% this year, as Russia rebounds from an economic crisis driven by low oil prices and Western sanctions over Moscow’s actions in Ukraine.

 

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