New car sales in May rose 11 percent year on year in Russia, the Association of European Businesses (AEB) said on Friday. This May, 260, 944 units were sold; this is 25,486 units more than in May, 2011.
In addition, the association is maintaining the double-digit growth that is expected to return the market to pre-crisis levels for the full year in Russia.
From January to May, 2012 the percentage sales of new cars and light commercial vehicles in Russia increased by 15% in comparison to the same period in 2011 or by 151,946 more sold units.
“May marked the 25th month of consecutive year on year growth for the Russian automotive market. The pace of growth is becoming less pronounced, reflecting the robust volume base the market reached last year with the help of the now absent government stimuli to the retail sector.
Present momentum therefore can be described as healthy, and consistent with earlier expectations.”, Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee said.