Russia has posted yet another monthly fall in sales of new passenger cars and LCVs, with the market dropping 2.4% in July.
There seems no end to the ever-plunging graph of sales in Russia, which has seen a roller-coaster of soaring consumer confidence only a couple of years ago replaced by a severely declining take-up of new purchases.
Among the top ten bestselling models so far, all models are locally-produced.
In July, sales of new cars and light commercial vehicles in Russia decreased by 2.4% compared to July, 2018 or by 3,484 sold units, and amounted to 139,968 cars, according to the AEB Automobile Manufacturers Committee (AEB AMC).
“Seven months into 2019, we find the market -2.4% down, both month-on-month and year-on-year,” said AEB AMC deputy chairman, Lars Himmer.
“Market expectations till the end of the year are fundamentally no better.”
The gloomy news is part of a trend as Russia continues to battle international economic sanctions and sharp fluctuations in oil and gas prices.