Russia's September new car sales rise 3.4% year on year

The 2020 forecast for Russia new car sales was a 13.5% year-on-year decrease, with expectations for 1.5 million units to be sold.
By : Reuters
| Updated on: 07 Oct 2020, 10:39 AM
File photo used for representational purpose only
File photo used for representational purpose only
File photo used for representational purpose only
File photo used for representational purpose only

Sales of new cars in Russia rose by 3.4% in September year on year to 154,409 vehicles after a 0.5% decline in the previous month, the Association of European Businesses (AEB) said on Tuesday.

The third quarter fall was 13.9% year on year, but the AEB was optimistic the overall sales decline in 2020 would be less severe than feared as Russian businesses face fewer restrictions from the coronavirus pandemic than earlier this year.

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"Traditionally, September is a good month for the automotive business," Thomas Staertzel, Chairman of the AEB Automobile Manufacturers Committee, said in a statement, adding that deferred purchase demand and the weakening rouble had helped sales.

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Staertzel said the 2020 forecast was a 13.5% year-on-year decrease, with expectations for 1.5 million units to be sold.

In July, the AEB had expected a 23.9% reduction in sales in 2020, to 1.3 million units.

First Published Date: 07 Oct 2020, 10:39 AM IST
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