On the heels of General Motors’ decision to pull up stakes in Russia, the country’s auto sales continued its dramatic descent in April dropping 41.5% despite the country subsidizing its auto loans.
According to the Association of European Businesses, the country sold 132,456 cars and commercial vehicles last month. The only upside for the country is that the top 10 sellers were all Russian carmakers.
The result was a small improvement over the 42.5% loss in March. Year-to-date sales are 516,135 units: down 37.7%. (more…)