Russia’s car market continued to decline in June, leaving first half sales some 6% lower than the same period of last year.
Data released by the Moscow-based AEB Automobile Manufacturers Committee (AEB AMC) showed that June sales of new passenger cars and LCVs in Russia reached 241,346 units, 11% down on last year’s pace.
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From January to June, 2013 the sales of new cars and light commercial vehicles in Russia decreased by 6% over last year.
The AEB holds out hope for government action to shore up market demand in the coming months. Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee said: “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 1st quarter. The question now is whether the market can do better in the 2nd half of the year.
“Personally I believe it can, and the chances for that have increased with the announcement of government plans to subsidise credit-backed vehicle purchases. We hope these plans will be implemented quickly, for the expected positive effect to be felt in the coming months”.
As well as measures to stimulate consumer finance, some observers believe that the Russian government may also introduce a scrappage scheme.
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