Car, LCV sales in Russia rise 9.4% to 137,894 in March - AEB
MOSCOW. April 10 (Interfax) - Sales of cars and light commercial vehicles (LCV) in Russia increased 9.4% year-on-year to 137,894 in March 2017, the Association of European Businesses (AEB) said in a press release.
In January-March 2017 a total of 322,464 vehicles were sold, up 1% compared to the same period in 2016.
"Finally, the sales trend on the Russian car market is moving in the right direction. Year-on-year, the 9% improvement in March was big enough to compensate the smaller losses in January-February, turning the cumulative sales result of the first quarter into a slight plus. This is great news for our market which had not seen a positive quarter in more than 4 years. But as the saying goes, one swallow does not make a summer. More solid month results will be needed before we can call this a robust trend," Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee, was quoted in the press release as saying.
According to Russian Economic Development Minister Maxim Oreshkin, the data confirms a recovery in Russian consumer demand was underway.
"Growing sales of cars in March and Q1 confirm the beginning of a consumer demand recovery and the broad nature of economic growth this year," Oreshkin told journalists, noting the importance of "positive dynamics, first and foremost, sales in the mass market."