Europe: Russia’s sales drop 6% in January image

The Moscow-based Association of European Businesses (AEB) reported that vehicle sales in Russia have started 2014 with a negative figure in January, falling 6 % to 152,662 units.

Due to the weak Russian overall economic backdrop, the AEB forecasts that sales for the 2014 year could fall by 2% – but added that finally the pace of contraction is more encouraging, as the result for last month follows a December 2013 rebound of 4%, which stopped the nine consecutive months of drops in deliveries of 2013.

“January sales turned out weaker than many had hoped for,” Joerg Schreiber, chairman of the AEB, said in a statement. “January is small volume though, and therefore not a serious indicator for anything.”

2013 brought an end to three consecutive years that accounted for double-digit sales growth with an overall market drop of 6% – which delayed the country in claiming first place from Germany in the region.

Via Automotive News Europe