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Widely tipped to become one of Europe’s biggest car markets, and after
terrifying autoindustry members by its reluctance to escape the
lingering car sales slump that had gripped the country for the past four
years, Russia’s long endured economic winter chill may be about to give
way to warmer spring sunshine. Those with a high locally manufactured
content, chiefly Lada, but also to an extent Hyundai-Kia and Volkswagen,
were the most notable sales gainers during this year’s opening two
months. Toyota and Nissan, so far this year, were two of the biggest
losers. The same goes for Germany’s prestige car brands
Whichever way recent Russian car sales figures are scrutinised, the
consensus view among market observers is that Russia’s much-depleted new
car market may well be on the mend, thanks in no small part to
underlying signs of an economic recovery and a near 11 per cent gain in
the rouble’s value since November last year.
For a car market that saw
sales plummet for 46 out of the past 49 months it is perhaps a
bold thing to say that this deeply recessionary car market has finally
seen its worst days.
That’s the upbeat message from latest Russian car sales figures,
suggesting that before long the market could be back on a sustainable
recovery path after terrifying most established autoindustry members by
its reluctance to escape the long-drawn out car sales slump...more
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