Sales of new passenger cars and LCVs in Russia decreased by 457% in December 2015, with a 35.7% drop for the entire year, according to figures released by The Automobile Manufacturers Committee of the Association of European Businesses (AEB) in Russia.
The Association of European Businesses is an independent non-commercial organization representing and promoting the interests of European companies conducting business in and with the Russian Federation.
In December 2015, sales of new cars and light commercial vehicles in Russia decreased by 123,682 units to 146,963 cars, according to AEB AMC. For the full year, new car and LCV sales declined by 890,187 units to 1,601,126.
Expectations for the new year are muted. AEB member forecast for the total market in 2016 is to reach 1.53 million units, assuming no major change in government support to the automotive sector. Under this condition, it appears possible to limit further volume erosion to a level of under 5% year-on-year. This would be some progress in view of the dramatic losses in the recent past, bearing in mind however that it remains uncertain when the market will finally stabilize and return to much needed growth.—AMC Chairman, Joerg Schreiber