Car sales in Russia shrunk 11% in June to 241,346 units

Article by Anita Panait, on July 10, 2013

Car sales in Russia dropped by 11 percent in June 2013 to 241,346 units, the fourth consecutive month of decline in the country, according to data from the Association of European Businesses (AEB). The declining car sales in the country has prompted the AEB to recently cut its full-year 2013 car sales forecast to a 5-percent drop.

Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee, said in a statement, that as a whole, the Russian car market is not "in the best of shape at this point." Car sales in Russia slid 4 percent in March; 8 percent in April; and 12 percent in May.

Nissan posted the highest drop in sales in June 2013 among major brands at 34 percent. The Chevrolet and Ford brands succumbed to 28- and 34-percent drops, respectively, in the month. Sales of the local Lada marque, which is the top-selling brand in Russia, fell 17 percent year-on-year in June 2013.

The second-best selling brand in Russia, Renault, saw its volume drop 5 percent in the month. Volkswagen, on the other hand, suffered a 5-percent dive in Russia in June 2013. Car sales in Russia dropped 6 percent year-on-year in the first half of 2013 to 1.33 million units.

Schreiber remarked that the question now is whether the car market can perform better in the second half of 2013. He said that he personally believes the market can do better in the second half, especially following the announcement that the Russian government is planning to subsidize credit-backed vehicle acquisitions. [source: Reuters]

Topics: russia

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