London, United Kingdom, January 18, 2010 --(PR.com
)-- Hopes that Russian automotive market would become the largest automotive market in Europe were completely crashed by the results of 2009 sales. According to the latest industry brief published by Gravitas Research, sales of the light vehicles in Russia experienced whopping 49 per cent drop compared to record high 2008 sales and reached only 1.4 million vehicles sold in 2009.
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.
About Company: Gravitas Research provides data integrity and timely services to a wide portfolio of clients. Clients range from private companies and government organisations in various domains and industries, to global market research and consultancy companies seeking additional support for data capture and analysis expertise.