Russia’s light vehicle market declined by 8% in April in a further signs of slowing demand in Russia.
The Moscow-based AEB Automobile Manufacturers Committee (AEB AMC), said that 245,334 units were sold in April, 8% below last year.
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From January to April, 2013 the sales of new cars and light commercial vehicles in Russia decreased by 2% in comparison to the same period in 2012.
Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee said: “Typically for the Russian market, April sales exceed March level, like in recent two years by 6%. This year we see basically no uplift, showing the relative weakness of retail contracting in the first quarter. April did not surprise with a fundamental recovery in demand, and it is becoming evident that it will be very difficult for the market to catch up to the record level of sales achieved in the first half of 2012.
The AEB will monitor further developments closely, planning to release an update full year forecast in June.”
Analysts say that Russia’s economy has slowed markedly over the last six months and that a weaker retail environment is now evident in slower cars sales.
