Sales of new cars, LCVs in Russia fall 12% in May - AEB
MOSCOW. June 10 (Interfax) - Sales of new cars and light commercial vehicles (LCV) in Russia fell 12% year-on-year to 229,670 automobiles in May, the Association of European Businesses (AEB) reported.
Sales were down 4% in January-May.
"Unfortunately, the negative year-on-year trend in Russian car sales is continuing for the third month now, at an increasing pace. Market participants are concerned about this situation, and expect continued slow demand before a potential improvement in the second half of the year. Further developments will depend also on what the government is prepared to do to stimulate general economic growth and private consumption, in particular," Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee, commented:
"In the light of recent trend, the AMC is adjusting its full-year forecast for the sales of passenger cars and LCV in 2013 to 2.8 million, 150,000 units or 5% less compared to market sales reached in 2012," Schreiber said.
