New car sales in Russia fall 26% to 172,015 units in August 2014

Article by Christian A., on September 10, 2014

Sales of new cars in Russia dropped 26 percent in August to 172,015 new cars and light commercial vehicles, according to the Association of European Businesses (AEB) lobby group said. Sales of new cars in Russia also fell 12 percent in the first eight months of 2014 as the country’s weak economy gets aggravated by Western sanctions over a conflict in Ukraine as well as by people delaying large purchases.

Joerg Schreiber, chairman of the AEB automobile manufacturers committee, remarked in a statement that weak August sales hardly surprised anyone in the auto industry. The sales decline so far in Russia is in line with AEB’s forecast for the full year 2014.

Schreiber quipped that a recently announced scrappage and trade-in program by the Russian government has brought hope that the current decline in the auto market could be brought to a halt.

He noted that a halt in the car sales drop would depend on how quickly the program would become effective, to allow market participants to make use of it.

In August, the Russia announce it would allocate RUB10 billion to finance incentives for new vehicle purchases this year – in effect resurrecting a program that had helped the auto industry during the previous crisis.

Topics: russia, sales

If you liked the article, share on:

Comments

Recommended

Without a doubt, the SUV segment is getting increasingly more saturated. This month alone, we were greeted with city-oriented SUVs from the Kia Stonic to the Hyundai Kona, and now...
by - June 27, 2017
The Swedish moose test is known to have victimized many in the past, including the Toyota Hilux that massively failed. So knowing that many cars from trusted and leading automakers...
by - June 27, 2017
All-new BMW X3 (G01) just made its debut! The updated model has a familiar design, and slightly increased dimensions compared to its successful predecessors. For more cabin space, the wheelbase...
by - June 27, 2017
Polestar is notably known to be Volvo's internal performance specialists, and around last year Polestar revealed to the public that it will utilize electrification to further advance the power of...
by - June 26, 2017
Earlier this month, Porsche introduced to us the 911 Turbo S Exclusive Series. The car wore a Golden Yellow Metallic paint. The same time it was launched, the company said...
by - June 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries