In Russia predicted a sharp drop in sales of cars

Dealers expect a significant drop in sales of passenger cars and LCVs (light commercial vehicles) in Russia in June, with a maximum of 50% yoy.

“Since in June the largest market in the Russia (from 1 June in Moscow allowed to sell cars — ed.), the decline will be reduced. I think 50% (in the previous year) will sell for sure, maybe more,” — said TASS President of the Association “Russian automobile dealers” (ROAD) Oleg Moseev

However, he warned that “without support from the state would definitely not return to those sales that were in last year.”

Recall that sales of new cars and light commercial (LCV) cars in Russia has fallen in April 2020 at 72,4% yoy (after rising 4% in March and a decline of 2.2% in February) to 38,922 thousand units, follows from the review of the Committee automakers Association of European businesses (AEB).

For the first 4 months of current year in Russia were sold 415,102 thousand cars and LCVs (down 19.1% in annual terms).

Commenting on these results, Chairman of automobile manufacturers Committee AEB Thomas Starzel noted that “after exceptionally strong sales in March 2020, in April in connection with the situation around COVID-19 dealer companies were forced to suspend or significantly restrict their activities.”

Meanwhile the income of the Russian automobile companies have fallen in the past month 60% yoy, from the data provided “Газете.Ru” analytical campaign “AUTOSTAT info”.

in January—April this year, the automotive company rescued 648,45 billion rubles, which is 1.2% lower than the same period last year.

Earlier, the Russian government has promised to allocate 25 billion roubles to support the automotive industry.

Add that at the end of February, the internationaling rating Agency Moody’s Investors Service did not rule out a decline in sales of cars in Russia in the current year by 4%, “amid continued slow economic growth and lack of government stimulus”.

And at the end of April experts of the consulting company PwC did not rule out that the sales of new passenger cars in Russia by the end of this year may have fallen by 30% over the previous year to 1,142 million cars. In this scenario without taking into account stress factors for 2020 implies a decline of only 3.7% to 1.57 million vehicles.

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