Russia’s imports of new cars plummeted 73.4% to 29,832 vehicles in January according to a report in the Vedomosti newspaper.

Car dealers dramatically reduced imports of new cars as they struggle to sell cars purchased in 2008, said Dmitry Gulin, president of the Russian Car Dealers Association. In February Russian car dealers had between two- and three-month worth of unsold new cars in stock, Gulin said.

Imports of Japanese-made cars plunged 74% on the year to 10,234 cars in January, according to Autostat. Imports of South Korean-made cars fell 76% to 5,574 cars. Imports of German-made cars dropped 67% to 3,034 units. Imports of British-made cars decreased 71% to 2,576 units. Imports of cars from Uzbekistan plummeted 85% to 935 units, while imports of Chevrolet Lanos car model from Ukraine plummeted 96% to 200 units, according to Autostat.

Russia’s vehicle market was 33% down in January.