The Russian car market continued its sharp recovery in September with sales up by 26% on last year.
The Moscow-based Association of European Businesses (AEB) reported that September’s sales of cars and light commercial vehicles reached 235,552 units, 26% ahead of last year. In the first three quarters of the year, sales reached 1,921,282 units, some 45% ahead of the same period of last year.
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David Thomas, Chairman of the AEB Automobile Manufacturers Committee commented: “The 26% increase for the month of September is in line with our recent expectations of a slowing but still strong growth for the remainder of 2011. The full year forecast of 2.45m cars and light commercial vehicles looks very achievable and the market prospects for the final quarter remain very positive with much improved credit availability and robust consumer confidence.”
Russia’s car market continues to recover this year as Russia’s economy picks up and replacement demand comes on stream after the big drop that occurred in 2009.
