In ruble terms the market of passenger cars decreased by 34%, while in dollar by 61% due to changes in average currency exchange rate,” according to the analysis of the automotive market in Russia PricewaterhouseCoopers.
MOSCOW, 6 Nov. Sales of new passenger cars in Russia in the first nine months of 2015 in dollar terms decreased by 61% to $ 17.5 billion dollars, according to PricewaterhouseCoopers (PwC) in the presentation devoted to the analysis of the Russian automotive market.
“For the first nine months 2015 sales of new cars in Russia fell by 43% in quantitative terms. In ruble terms the market decreased by 34%, while in dollar by 61% due to changes in average currency exchange rate”, — stated in the message.
It is noted that substantial support to the market was made by the state measures of stimulation of demand, in particular, the program of Parc renovation, concessional automotive lending and leasing, which helped to moderate the rate of declining sales.
According to the presentation, more than just for the reporting period decreased sales in dollar terms, the import of new vehicles by 67%, to 5.8 billion dollars. The most sold foreign cars of the Russian production — 10 billion dollars (reduction by 57%). Sales of domestic brands declined by 53% ($1.6 billion).
So, for the first nine months, sales of most brands has declined. Among the brands that have managed to increase the market share of Russian and Korean brands as well as German and Japanese premium brands. The market share of Lada increased by 2.3 percentage points to 18.9%. This contributed to the shift in consumer demand from mid segment to lower as well as stimulating state programs and private travel for clients of the program Lada Finance.
Korean brands retain strong positions in the Russian market, which was the result of implementing a consistent strategy of expanding its presence in Russia, the report says. So, the KIA brand has increased its market share to 11.1% from 8.2% last year, the Hyundai brand is up to 10% from 7.9%.