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April car sales see 8% drop in Russia

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April car sales see 8% drop in Russia

While many of the big economies in Western Europe have finally started to show a rejuvenation of car sales, after an almost six years slump, the big performer from two years ago is now cracking down.

Just two short years ago many of the European and US carmakers fled to Russia to shield from the European mainland economic crisis, while the Eastern country enjoyed an incredible rise in consumer demand – with many analysts predicting it would eventually outrun the region’s biggest car market – Germany.

After a general dip last year, the start of 2014 doesn’t look any better, with the Association of European Businesses (AEB) lobby group releasing April’s sales – which fell 8% from the same month in 2013.

“After a brief spell of recovery, the market is falling back into negative territory,” said the association’s manufacturers committee chairman, Joerg Schreiber.

According to the AEB, April sales tallied 226,526 cars and light commercial vehicles, with consumer demand falling because the weak local currency made many automakers raise prices. Schreiber also commented the group doesn’t see a rise in demand any time soon, as the economy continues its weak trend – also hit recently by the new sanctions coming from the EU and US over the Ukrainian situation.

Via Automotive News Europe

by Aurel Niculescu (my Google+) - Wednesday, May 14th, 2014 - filed under Industry, News, Sales Reports. Image credit: .
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