Russia has recorded one of its worst monthly slumps in sales as easing pressure on the ruble stems a previous rush to showrooms.
The improved stability of Russia's national currency, combined with the ending of Moscow's scrappage and trade-in programme, have combined to depress sales yet further in a year which has seen disastrous numbers emanating from East of the Urals.
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Figures from the Association of European Businesses in Moscow, show sales of new passenger cars and LCVs in Russia collapsing by 42.7% in November, with nearly 132,000 vehicles bought.
"One year ago, the ruble was plummeting and customers were storming dealer showrooms to put their money to use before car prices caught up with the new exchange rate reality," said AEB Automobile Manufacturers Committee chairman, Joerg Schreiber.
"None of this happened in November this year, which explains the relative deterioration in year-on-year performance of the market.
"The year is not over yet, however expectations regarding December are rather modest, especially in comparison with the record sales achieved last year at the peak of a short-lived sales boom. Russia's vehicle market has been hard hit by recession this year with little prospect for relief while global energy prices – especially oil – remain depressed.
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By GlobalDataOil, one of energy-giant Russia's staple exports, dipped below the important benchmark of US$40 a barrel this week and with the seeming glut on world markets showing no immediate sign of ending, any hopes of a recovery to its previous post-US$100 summit, seem remote.
