Figures from the AEB Automobile Manufacturers Committee (AMC) in Moscow, show 2016 new car and LCV sales dropped 11 % or 176,319 units to 1.42m vehicles compared with the same period the previous year.
For December, sales of new cars and light commercial vehicles in Russia decreased by 1% last month compared with December, 2015 or by 1,526 sold units and amounted to 145,668 cars.
Go deeper with GlobalData
"A nearly balanced year-on-year performance in December concludes a similarly balanced 4th quarter (-0.9% respectively versus the same period last year)," said AEB AMC chairman, Joerg Schrebier.
"After the double-digit losses in the first nine months of the year, this is good progress. The market as a whole is still lacking positive momentum, but apparently is in process of finally establishing its bottom.
"Full-year sales of passenger cars and light & medium commercials in 2016 reached 1.42m units, 11% below the 2015 result of 1.6m."
For this year, the AEB believes the market has the potential to end a four-year period of decline and return to moderate growth.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataTotal market sales are expected to be 1.48m units, or 4% above the 2016 result.
