Russia’s car market posted growth of just 2% on last year in the month of February, according to data released by the Moscow-based AEB Automobile Manufacturers Committee (AEB AMC).
It said in a statement that some 210,666 cars and light commercial vehicles were sold last month, taking the cumulative total for the first two months of the year to 372,743 units, 3% ahead of last year.
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The AEB said the result was expected. Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee said: “No surprise in February – retail registrations keep following the largely stable year-on-year pattern which we have been seeing for some months now. This kind of relative stability is a new experience for the traditionally very dynamic Russian car market. The majority of industry participants believe that consolidation at a high level remains the most likely scenario for the market development in the coming months.”
Russia’s car market is forecast by consultants PwC to rise by around 5% in 2013, continuing the growth trend of recent years.
