In a stark contrast to auto sales in the U.S., which are heating up, new car sales in Russia have been dropping like a stone with no expected end to the fall in sight.
The light vehicle market posted its biggest monthly decline in Russia in about five years in March when it slid 42.5%, according to the Association of European Business. Through the first quarter of 2015, sales in the country are down 36.3% compared with year-ago figures.
When examining automaker results, seeing what company performed best is a matter of which company lost the least, which in the case of March was Mercedes-Benz at 3%. AvtoVAZ’s Lada brand shrank 26% last month, Hyundai had the best month, falling just 15%. Kia lost 32% and Volkswagen fell 47%. (more…)