January light vehicle sales data for Russia issued by the AEB shows that the market declined by 6% last month. Sales declined to 152,662 vehicles in January.
However, the AEB said that the decline was expected ahead of a pull-forward to sales in December ahead of a subsidy removal.
Go deeper with GlobalData
“January sales turned out weaker than many had hoped for – not a complete surprise however following a strong December which saw a pull-ahead of credit-backed sales due to the run-out of the government subsidy,” Joerg Schreiber, chairman of the AEB’s Automobile Manufacturers Committee, said in a statement.
He added that January is a small volume month. “The February result will provide a better clue to where the market is headed this year. Current pace of contracting is quite encouraging all around, so we maintain our short-term expectation for the market to stabilise,” he said.
The AEB said that 2.78m light vehicles were sold in Russia in 2013, 5.5% down on 2012. It also forecast that the market for 2014 would total 2.73m, 2% down on last year.
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 GlobalData
