New car, LCV sales in Russia fall 11% in June - AEB
MOSCOW. July 8 (Interfax) - Sales of new cars and light commercial vehicles (LCV) in Russia fell 11% year-on-year in June to 241,346, the Automobile Manufacturers Committee of the Association of European Businesses said.
Sales fell 6% to 1.333 million in January-June.
"I think it is obvious that, as a whole, the Russian car market is not in the best of shape at this point. Second-quarter sales finished 10% below last year, and that is clearly not what market participants had hoped for after a balanced result in the first quarter. The question now is whether the market can do better in the second half of the year. Personally I believe it can, and the chances for that have increased with the announcement of government plans to subsidize credit-backed vehicle purchases. We hope these plans will be implemented quickly, for the expected positive effect to be felt in the coming months," said Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee.
