Russian vehicle sales dropped by 6% in January 2014

Article by Anita Panait, on February 13, 2014

Vehicle sales in Russia in January 2014 dropped 6 percent to 152,662, according to the Association of European Businesses (AEB). The association expects vehicle sales in Russia to fall 2 percent in 2014, as the country’s economy remains weak. The weak January result followed a 4-percent surge in Russian vehicles sales in December.

Prior to December, deliveries in the country had fallen for nine consecutive months. For the full year 2013, the Russian auto market dropped 6 percent to 2.78 million units. It ended three years of double-digit growth in Russia and delayed the nation's move to overtake Germany as the No. 1 market in Europe. "January sales turned out weaker than many had hoped for," said Joerg Schreiber, chairman of the AEB said in a statement.

"January is small volume though, and therefore not a serious indicator for anything." The AEB said that the rate of contraction was encouraging. The group reiterated its short-term forecast for the Russian market to stabilize. Western carmakers like General Motors, Ford Motor Co., Volkswagen Group, Renault and Fiat Group have made heavy investments in Russia, bullish that the country's rising middle class will pave way for sales long-term.

Topics: russia, sales

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The bidding war for one of the only 20 examples -- 21 actually, but the 00 version went to a museum -- of the classically beautiful Lamborghini Reventon built and...
by - January 18, 2017
Bentley once again confirmed its plans to push PHEV into their future lineups. As a matter of fact, the Bentayga SUV will be the first to have the plugin hybrid...
by - January 18, 2017
Each time that Mini launches a new generation of the Countryman crossover, a John Cooper Works performance version is always expected to follow. When Mini unveiled the next-gen 2017 Mini...
by - January 18, 2017
Ford Mustang customers won’t be able to specify the V6 powerplant for the latest iteration of the carmaker’s pony car. This comes as the new 2018 Ford Mustang is saying...
by - January 18, 2017
The man sitting at the top of the performance division of Mercedes-Benz – Tobias Moers – cryptically indicated that the Mercedes-AMG GT4 could be really coming. Moers, chief executive of...
by - January 18, 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