Gravitas Research Reveals Light Vehicle Sales in Russia in 2009. Russia is Back to the 5th Place in Europe.
Latest industry brief published by Gravitas Research reveals that Russian automotive market is back to the 5th place in Europe as car sales contracted by more than half in 2009. Foreign car manufacturers were able to sell only 1 million vehicles in Russia compared to 2 million vehicles sold in 2008.
Struggling real sectors of the Russian economy, significant reduction in automotive financing and its availability, frozen growth of disposable income of the Russian consumers, and increased custom tariffs on import of foreign vehicles in Russia were among the key factors that determined fall in light vehicle sales in Russia. Foreign brands in Russia appeared in the tough conditions during the whole 2009 with average monthly sales drop of 51 per cent.
Unsatisfactory sales of light vehicles in 2009 have moved Russian automotive market back to the 5th place in Europe behind Germany, France, Italy and UK. Hopes of the Russian automotive industry stakeholders in possibility of this market becoming the largest in Europe were already broken in 2008 and disastrous vehicles sales in 2009 delayed further realization of such hopes. To find out more about light vehicles sales in Russia and Europe, please, read the full industry brief available at Gravitas Research web-portal.
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