Russia: New Car Sales up 25% in February image

New car sales in Russia rose 25 percent in February to 206,873 vehicles, the Association of European Businesses in Russia said Sunday. The 10 best-selling passenger cars were all produced domestically, the group said.

January and February 2012 saw the percentage sales of new cars and light commercial vehicles in Russia increase by 23% in comparison to the same period in 2011 or by 66,867 more sold units.

“The encouraging start to 2012 continues with 25% growth for the month following January’s 20% increase. A 23% Year to date increase is better than anticipated in the last AMC forecast, but as the first two months in the Russian market are subject to vacations and the impact of closing stocks, it is too early to revise our full year view of 2.8m Passenger Cars and Light commercial Vehicles.

Once we have the March results, we will have a clearer picture of the overall market trend,” David Thomas, Chairman of the AEB Automobile Manufacturers Committee said.

The AEB is forecasting a 12 percent rise in 2012 car sales to 2.8 million units, close to the pre-crisis mark of 2.9 million recorded in 2008.