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

Article by Christian Andrei, 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:


Login or Create new account to add a comment!


Wondering what the Fantasy Gift in Neiman Marcus’ annual Christmas Book this year could be? If you are generous enough to give others or yourself this special present, then behold...
by - October 24, 2016
It wasn’t too long ago when Maserati took the wraps off what appears to be the most gorgeous concept coupe ever made. The Alfieri coupe premiered at the 2014 Geneva...
by - October 23, 2016
Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016
Honda has unveiled the fifth generation of its hot-selling SUV – the 2017 Honda CR-V. The latest iteration of the CR-V should help it maintain its benchmark status in the...
by - October 21, 2016