RUSSIA: Light vehicle market up 11% to new record in 2012
The AEB has announced that the Russian light vehicle market grew by 11% last year to reach 2.94m units.
It also said that it expects the 2013 market to consolidate at a similar level.
Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee commented: “December 2012 closed with a small improvement over the same month last year, bringing full year sales to a level of 2.935 million units, up 11% from 2011. This result established a new sales record for Russia, exceeding the previous peak level of 2.918 million units established in 2008 - if only by a narrow margin.
"The outlook for the market in 2013 holds little promise for a quick return to growth at the double-digit rates enjoyed in recent years. An AMC member poll of industry expectations for the current year resulted in a scope of +/- 5% around a median of 2.95 million sales of PC and LCV in Russia in 2013. This suggests the market will consolidate at or close to its current level – an assumption supported by the actual performance in the last couple of months.”
The AEB data also shows that market leader Lada (AvtoVAZ) continued to lose share in 2012 as consumers were attracted to locally assembled foreign brands.
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