Russia significantly reduced the exports of cars

Russia in January—April 2020 reduced exports of passenger cars by 35.2% yoy to 21.7 thousand, follows from the materials of the Federal customs service (FCS) of the Russian Federation.

In value terms, exports of passenger cars amounted in the reporting period of $297 million, which is 35.3% less than in the previous year.

the import of passenger cars in Russia for January—April of the current year fell by 26.3% to 66.1 thousand units (purchased at $1,622 billion).

Recall also that, according to Rosstat, the production of passenger cars in Russia decreased in January—April 2020 33.5% yoy to 353 thousand units. In April, the production of passenger cars fell by 79.2% in annual terms and by 72.3% the previous month.

Meanwhile, sales of new passenger cars and light commercial (LCV) cars in Russia fell in may 2020 51.8% yoy (after the collapse of the 72,4% in April and 4% growth in March) to 63,033 thousand units, according to the Committee automakers Association of European businesses (AEB).

For the first 5 months of current year in Russia were sold 478,135 thousand cars and LCV (minus 25.7% in annual terms).

Commenting on the results, Chairman of automobile manufacturers Committee AEB Thomas Starzel noted that “the showrooms of Moscow, St. Petersburg and most of the regional dealers were closed for the entire month.” “Technical centers were able to resume work, and, accordingly, the flow of customers began to grow. We expect that in June amid the easing of restrictions in most parts of the country the situation is slightly improved, which will positively affect the sustainability of the dealer network. Implementation of the first package of measures of state support will contribute to the gradual recovery of the market in the second half of the year”, — the expert believes.

Add that at the end of February the international rating Agency Investors Service Moody’s 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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