Russia’s new automotive gross sales totaled 546,000 first half of the yr, down 27% on an annual foundation, a report from the nation’s Industry and Trade Ministry mentioned Thursday.
The variety of new automobiles bought in Russia fell 29% year-on-year in June alone, the ministry assertion mentioned.
The Russian-based Association of European Businesses (AEB) mentioned automotive gross sales are anticipated to fall 24% this yr, totaling 1.25 million models.
Anton Alikhanov, the trade and commerce minister, mentioned on Wednesday that the nation’s auto sector goes by way of a tough time amid excessive rates of interest.
The 2022 begin of the conflict in Ukraine triggered an exodus of Western firms from Russia.
Car gross sales within the closely sanctioned nation got here to a standstill after Western auto corporations, as soon as market leaders in Russia, left the nation.
Russia’s automotive gross sales noticed some restoration with an increase in exports of Chinese automobiles and manufacturing by home producers.
Source: www.anews.com.tr