Chill breeze still sweeps through Russia’s car market

RUSSIA
Chill breeze still sweeps through Russia’s car market
Wobble in consumer confidence, but Russia’s rich are still spending
Published: Tue, 03 Dec 2013 19:43:08 GMT
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The icy grip that has held Russia’s new car market in deepest recession for all of this year has shown few signs of loosening its hold. And yet, there is a faint chink of light in the most recent figures.

A slight slowing in the market’s rate of decline, driven home by a less severe 7.9 per cent dip during the third quarter, followed by a 5.7 per cent drop this October, has tempted some optimists to the view that in Russia - echoing the improving picture in Western Europe - the very worst may well be over.

This has tempted the view that finally a slow thaw may be in prospect next spring.

-7.9%
Dip in Russia's new car market during third quarter

October’s 5.7 per cent dip in new car sales, the tenth successive month of ebbing sales this year, underscores the view that Russia’s new car market remains firmly mired in recession.

The latest fall, following declines of 9.7 and 7.9 per cent during this year’s second and third quarter, brings Russia’s ten months car sales total to 2.12m units, 6.6 per cent down on the same period last year.

Disappointing for all concerned, and contrary to the view held earlier by some optimists that Russia’s trading conditions would improve during the second half, latest figures are also proof that Russia’s lingering car sales chill has continued to separate the sheep from the goats...more

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DATA AVAILABLE TO SUBSCRIBERS WITH THIS ARTICLE:

RUSSIA new CAR sales:
by manufacturer and marque OCTOBER 2013 v OCTOBER 2012
by manufacturer and marque 10-MTHS 2013 v 10-MTHS 2012

RUSSIA new CAR sales:
by TOP SELLING MODEL 10-MTHS 2013 v 10-MTHS 2012

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-7.9% Dip in Russia's new car market during third quarter

-7.9%
Dip in Russia's new car market during third quarter