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.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

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.

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.

Company Profile – free sample

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Oil, 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.