Russian car sales shrank 56% year on year in June but the rate of reduction reduced slightly from the 58% slump seen the previous month, the Association of European Businesses said on Wednesday.

In the first half of 2009, sales of new cars fell 49% as consumers tightened their belts in the face of job losses and salary cuts during Russia’s first recession in a decade.

Banks’ unwillingness to give out loans has also weighed on sales, Reuters reported.