Source link : https://london-news.net/russian-auto-market-faces-severe-decline-as-sales-drop-27-5-in-may/
Expectations for a recovery in Russia’s automotive sector have diminished, as car sales saw a significant decline in May, following a rise in the preceding month.
The Industry and Trade Ministry reported that sales of passenger cars and light commercial vehicles decreased by 27.5% compared to the previous year, totaling 98,300 units in May based on vehicle registration data.
Sales of passenger cars alone witnessed a 28% decrease from May 2022, amounting to just 90,700 vehicles. This marks a persistent annual decline, adding to April’s 26% fall — a trend that has been consistent through the first five months of the year.
The ministry attributed the poor performance in May to seasonal influences. However, several car dealers contested this reasoning, pointing out that May typically experiences an increase in demand, often surpassing that of April.
“A dealership manager, who represents several Chinese brands and spoke anonymously for safety reasons, remarked, ‘The situation is considerably worse than in April and compared to last year. We didn’t anticipate it would be this dire.’”
Surveys from the industry echo this pessimism. “More than half of the dealers have indicated that their business is performing worse than a year ago, whereas about 15% report a slight improvement,” an automotive analyst shared with MT Russian.
Dealers attribute the waning demand to macroeconomic instability. Prospective buyers are either conserving their savings or converting…
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Publish date : 2025-06-04 15:10:00
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