Car sales in Russia up 17.3 % in October

Car sales in Russia up 17.3 % in October

Russian car sales were up 17% in October. / bne IntelliNews

By bne IntelliNews November 9, 2017

Sales of new passenger cars and LCVs in Russia increased by 17.3% y/y in October, the Association of European Business, which follows the market, said in a press release on November 9.

In total, 148,597 units were sold in October, and 1,277,938 in the January-October period.

"The recovery of the Russian car market continues with October sales exceeding last year’s result by a robust 17%," Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee commented. "This is now the eighth consecutive month of year-on-year improvement, the longest period of uninterrupted growth the market of passenger cars and light commercial vehicles has experienced since 2012."

"The size of today’s market is still a far cry from the record sales achieved in that year," he went on to say. "But it is encouraging to see that, at the current pace of recovery, total sales in 2017 have a good chance to restore the market to the level it had in 2015."

Domestic names continue to lead the sales, contrary to the situation during the boom years. The iconic Lada, manufactured by the country's largest carmaker Avtovaz, controlled by Renault, was the biggest winner, with a 23% increase in sales y/y in October and 17% in the January-October period.

It was followed by KIA with 16% and 25%, respectively, Hyundai (11% and 11%), Renault (18% and 18%) and Volkswagen (15% and 15%).

#auto #Russia #Lada

Read in IntelliNews Pro

Get IntelliNews Pro

Related Content

Russian Muslims allowed to have four wives, religious council rules

Russian long-haul driver murdered in northern Iran

PANNIER: Why the Turkmenistan, Iran gas “friendship” is back on

Russian Muslims allowed to have four wives, religious council rules

Russian long-haul driver murdered in northern Iran

PANNIER: Why the Turkmenistan, Iran gas “friendship” is back on

Data

Russia’s CBR keeps key rate at 21% under pressure

In a surprise decision CBR governor Elvia Nabiullina kept interest rates on hold at 21% as she comes under mounting pressure from Russian President Vladimir Putin and the oligarchs who accuse her of destroying the economy.

Polish industrial production disappoints in November as output falls 1.5% y/y

Seasonally adjusted, output expanded 1.1% y/y in November, following a gain of 3.9% y/y the preceding month, GUS data showed.

Moldova's economy shrinks by 1.9% y/y in Q3

Economic performance was dragged down by agriculture, while manufacturing sector grew.

Kosovo's population down 12% since 2011

Falling population attributed to departure of many Kosovars to work abroad in search of a better life, a trend that persists across the Balkans.

Polish producer price deflation eases further in November

The PPI has been on a declining trend, reflecting the still relatively low demand linked to sluggish Germany economy and the domestic expansion only beginning to gain sustained momentum, analysts say.

Russia’s CBR keeps key rate at 21% under pressure

Polish industrial production disappoints in November as output falls 1.5% y/y

Moldova's economy shrinks by 1.9% y/y in Q3

Kosovo's population down 12% since 2011

Polish producer price deflation eases further in November

Dismiss

Chat with usLiveChat