Sales of passenger cars and LCVs in Russia surge 72.5% to 132,523 vehicles in May

MOSCOW. June 4 (Interfax) - Sales of new passenger cars and light commercial vehicles (LCV) in Russia surged 72.5% year-on-year to 132,523 vehicles in May 2024, the Association of European Businesses (AEB) said, citing data from JSC Passport Industrial Consulting (PPK), a joint venture between Autostat analytical agency and JSC Electronic Passport operator.

"In May 2024, the Russian automobile market continued its rapid growth by 72.5% compared to May last year. Meantime, if we look at the dynamics, we see that March 2024 exceeded the sales figure for the corresponding month of last year by 102%, and April by 78%. Thus, despite the continuing trend of almost doubling sales volume, a slowdown in growth rates is obvious. One of the factors that traditionally affects sales volumes in May is the holiday season, and traffic at dealership centers is correspondingly reduced. The decline in growth rates is also owing to the growing base of the last year," AEB Automobile Manufacturers Committee Chairman Alexei Kalitsev said.

The Russian passenger car and LCV market soared 81% in the first five months of the year to exceed 617,000 vehicles.