Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa

Domestic Car Market Drops Down
March 28, 2016 12:22


The domestic car market may shrink by 12 percent in 2016, this forecast was pronounced at the Russian Automotive Forum, as “Autostat” reports.

According to experts, the sale of vehicles will not exceed 1.4 million units. It is 100 thousand cars less than previously forecasted by the Association of European Businesses (AEB).

There are prerequisites for the more pessimistic forecasts: no more than 1.2 million units will be sold. Annual results depend on oil price which determines the value of the rouble in many ways. The pre-crisis level of sales used as a basis by investors when developing strategies for Russia can be achieved at a price of $ 100 per barrel, as the experts noted. According to them, it will take at least ten years.

According to AEB forecast for 2016, the volume of the Russian car market will amount to 1.53 million units. In February of this year the market showed the smallest drop in 14 months. According to the opinion of the Chairman of the Committee of Car Makers of Jörg Schreiber’s Association, this effect is due to the low base of last year. The used car market grew by 10.9 percent in February – up to 370,000 sold cars. Positive dynamics of sales was marked for the first time since December 2014. The three leaders of the domestic car market included “AvtoVAZ” with the result of 19035 sold cars (minus 19 percent); KIA - 11492 cars (minus 9 percent) and Hyundai with 10510 sold vehicles (minus 21 percent). On February 26 it was revealed that more than half of new cars sold since the beginning of 2016 were purchased with the help of government programs for stimulating demand.


Author: Anna Dorozhkina

Tags: car market     

Next Previous

You might also find interesting:

Foreign Investors Withdrew More Than 1.6 Billion Dollars From Russian Stocks Govt Weights Options for National Rating Agency Retweet-Driven Mockery Trend Casts Shadow Over #Sochi 2014 Bukva-Grad (Letter-town) Will Appear In Perm Russia Exported a Lot Of Attack Helicopters - Mi-28NE Night Hunter

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
White City  All Events  Festivals in Moscow  fashion designer  Locomotive Team  Exhibitions in Moscow  St. Petersburg  Sakhalin  GenerationS  Tyumen  Alisher Usmanov  long-distance trains   Pyotr Ufimtsev  Samara Transfer  Lyudmila Kasatkina  Progress Cargo Spacecraft  Free Events  Zhou Shaohua  New Films  Book Tickets for Operas  train tickets Russia FIFA  Primaries  Russian cuisine  Igor Grabar  Russian tourism  Rospotrebnadzor  Hermitage Museum  Russian regions  Aeroflot  Laboratory Animals  Ruza  Moscow hotels  Russian Music Instruments  Tula  travel to Russia  Installations  Buryatia  Moscow  Russian Cinema  Left Front  Robots  Rambler  Russian souvenirs  Unpiloted Aircrafts  Nature Reserves  Mercedes-Benz Fashion Week Russia  Bell Ringing Festival  Omsk  Corruption Perceptions Index  Russian business 

Travel Blogs
Top Traveling Sites