Russia Autos Report Q2 2014

Russia Autos Report Q2 2014

Published: March 2014
Publisher: Business Monitor International (BMI)
Product ref: 198025
Pages: 71
Format: PDF
Delivery: Immediate download

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BMI View: BMI remains bearish on the near-term outlook for domestic vehicle sales and production in Russia. A combination of sluggish demand for new cars, and a deteriorating economic backdrop, means that we continue to target declines in both sales and production over 2014.

Light vehicle sales in Russia declined by 6.4% in 2013, to 2,834,753 units, according to figures from the Association of European Businesses (AEB). BMI had long maintained that 2013 would see a slowdown from 2012 levels, when light vehicle sales in the country had increased by 11%. Despite strong annual sales growth in the early part of 2012, autos sales moderated on the back of subdued private consumption in the second half of the year. We maintained that such growth in the segment was on the back of an unsustainable rise in consumer sentiment, fuelled by cheap credit, which was likely to unwind over the course of the year. This played out, and these dynamics continued to impact sales in 2013.

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Related research categories

By market: Russian Federation (in Asia), Russian Federation (in BRICM)


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