Russian car market has grown by 13% in 2018

Russian car market has increased by 12,8 % in 2018 or 204,854 units in comparison with the previous year, as announced by AEB.

According to the AEB data 1,800,591 cars have been sold in 2018.

In December 2018, sales of new cars and light commercial vehicles increased by 5,6% compared with December 2017 or by 9,227 sold units, and amounted to 175,240 vehicles.

Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee commented on the Russian car market: “Total market sales in December improved by 5.6% on an annual basis, closing the year with a 12-month streak of consecutive growth. Thus, cumulative sales in 2018 reached 1.8 million units, posting a 12.8% plus compared to the prior year.

The outlook for 2019 is not so straightforward. Consumer tax increases and a possible tightening of US sanctions create significant risks and uncertainties for the market performance especially in the first quarter of the year. Assuming no drastic change in government policy and support for the automotive sector, market participants however expect that fundamental market demand should be robust enough for sales to consolidate and to return to a growth pattern in the course of the year. With this in mind, our 2019 full year prediction for sales of passenger cars and light commercial vehicles in Russia is a moderate improvement to 1.87 million units, or by 3.6% compared to the prior year”.

Source: RusAutoNews.Com