Sales of new cars and light commercial vehicles in Russia continue to decrease:

• Sales of new passenger cars and LCVs in Russia decreased by 58% in May 2009 and by 47% in the first five months of 2009
 

• Among the top 10 bestselling models so far this year, seven are locally produced May 2009 saw sales of new cars and light commercial vehicles in Russia decrease by 58% compared with the same period in 2008, or by 161,524 less sold units, according to the AEB Automobile Manufacturers Committee (AEB AMC)

Decrease for the first five months of 2009 amounted to 47% or 574,680 less sold units as compared with the same period of 2008.
Among the top ten bestselling models of passenger cars so far this year, seven are produced in Russia.

“May showed a further decline in the market of -58%, -47% for the first five months if compared with the same period last year. There are some signs that the pace of decline in the Russian market is slowing but there is still considerable variation between individual segments”, commented David THOMAS, AEB Automobile Manufacturers Committee’s Chairman.

Martin JAHN, Vice Chairman of the AEB Automobile Manufacturers Committee continues, “So far Government support measures have not been able to stop the decrease in sales and to change the continuing trend. We in the AEB Automobile Manufacturers Committee believe that the volume of funds for the program should be increased extending the program to all locally manufactured cars, lifting the threshold of the program from 350,000 to 600,000 Roubles as soon as possible allowing a broader number of banks to operate as part of the support program.”

SOURCE: AEB May 2009