Car sales in Russia down 9%

RUSSIA / FSU POLITICS - In Brief 18 Jan 2021 by Alex Teddy
On January 14 the Association of European Businesses (AEB) published data on car sales in Russia in 2020. Russians bought 1.6 million cars in 2020 as opposed to 1.76 million the previous year. The decline is less marked than in most countries. Owning a car is still beyond the reach of the working class in Russia. Therefore, car buyers were not as severely affected by the economic downturn as the general population.Car sales collapsed in April but recovered to an almost normal level by December. Avtovaz is Russia's main automobile manufacturer. Avtovaz and Kia saw sales fall. Curiously, Hyundai sales increased.AEB forecasts a 2.1% growth in vehicle sales in 2021 assuming that there are no more sanctions and state subsidies for cars remain.Russian car sales raced in the 2000s but slowed in the 2010s because of sanctions.

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