Russian Vehicle Sales fell 12% in May posting the worst year on year performance in four years confirming negative expectations from independent observers. The already weak demand was further dejected by rumors on new incentives.
In May 2014 accordingly with data released by the Association of European Businesses in Russia, new Light Passengers Vehicles sold have been 201.487, down 12.3% from year ago, the worst year-on-year performance since 2010. Year to date May sales have been 1.030.506, down 5.6% from year ago.
Despite the Russian government would be proud of a domestic car market in the Top Five world-wide and many forecast of Consulting firms projects the Russian market up and up in the next years, the market is losing terrain towards recent years as the 2.9 million recorded in 2012 and the 5% decline followed last year, have been generated by strong incentives and easy car loans policy. As always, pump in cars in a market creates a wave effect and after a market growth due to anticipation of future demand there is a period when the sales are less that would naturally be, having lost potential customer that already purchased.
Actually the Russian market potential should be at 2.7 million annual sales. But the last years pump in project the 2014 in the range of 2.55 -2.6 million. No more.
Coming down on May 2014 key facts in the market, Lada has further recovered share with 34.061 sales, followed by Kia with 16.917 and Renault with 16.295.
Among models, the podium was unchanged with Lada Granta first with 12.947 sales followed by Hyundai Solaris with 9.791 and Kia Rio with 8.513. Nissan Qasquai was back in top ten with 4.031 sales at the arrival of second generation.
In the interactive tables below you can sort thru the All-brands and Best-selling models as you like:
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