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Russia could stabilize after flat March sales

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Russia could stabilize after flat March sales

According to the Moscow-based Association of European Businesses (AEB), the Russian new car market in March had sales of 243,335 cars and light commercial vehicles.

The sales are almost flat compared to the same month last year, when the AEB announced 244 225 cars were delivered. In the first quarter, the new car market in Russia slid 2 % to a total of 602 523 units. For last year, sales were down 5.5 %, while in January the decline was of 6% and of 2% in February.

“The pace of decline had been less pronounced in recent months, indicating that consolidation is around the corner,” said AEB Chairman Joerg Schreiber in a statement. “Prevailing thinking among market participants is that the recent spike in market demand was driven by one-time effects which will have a reverse impact on customer activity in the second quarter, but the order banks generated during that spike however should contribute to a further improving (year-on-year) performance of the retail industry in the coming 1-2 months.”

Lada, Russia’s best selling brand saw a sales decline of 8% and the same was accounted by Renault, second placed on the market. Meanwhile, third placed Nissan jumped 20% in March. The Renault-Nissan alliance also brought in Russia the resurrected Japanese brand Datsun as a low cost alternative.

Via Automotive News Europe

by Aurel Niculescu (my Google+) - Wednesday, April 9th, 2014 - filed under Industry, News, Sales Reports. Image credit: .
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