July sales of new cars and light commercial vehicles in Russia increased by 6.8% compared to the same month last year, or by 9,097 sold units, amounting to 141,924 cars, according to the AEB Automobile Manufacturers Committee (AEB AMC).
“With an increase of 6.8 %, July is the first month this year with significant growth versus the previous year, which shows signs of the long awaited recovery,” said AEB AMC chairman, Thomas Staertzel.
“This strong performance is fired, on the one hand, by the deferred demand of the previous months of closed operation and, on the other hand, by the weakening Ruble. The current YoY July results show decrease of 19.3%, which is below the AEB 2020 forecast of -23.9%.
“The good sales results of the total market are also supported by the governmental measures. The sales increase of some brands could be even higher without car stock deficiency linked to the production lock-downs during spring. For the premium market, even better sales dynamics can be assumed.
“Current market predictability is low due to unknown development of the currency, potential price measures, economic and financial effects and even new potential lock-downs linked to the pandemic situation, which might make further governmental support very important for dealers and manufacturers.”