·Russia's car sales fell 12% in May

According to Reuters news, the European Business Association released data showing that in May Russia sold 201,487 new cars and light commercial vehicles, down 12% (or 28,000). It has been declining for two consecutive years, with sales falling for four months in the first five months of this year.

According to the association statistics, the brands that have seen a sharp decline in sales in Russia this year include: Volga's Lada brand, a 14% drop; Ford's car fell by 35%. However, Nissan’s sales in the first five months have risen 29% against the trend.

Russia’s fragile economy is further affected by Western sanctions against Ukraine, and consumers’ general tightening of monetary policy has had a negative impact on car sales.

Joerg Schreiber, chairman of the European Business Association Automobile Manufacturers Committee, said: "The overall market activity in April and May is similar to that of the same period last year, and sales have been declining for two consecutive years." The association also said that the devaluation of the ruble is the result of the recent months. One of the factors contributing to the decline in car sales. For Russian consumption, imported cars have become more expensive.

Schreiber expects that the downturn in the Russian auto market will not improve in the short term.

Motorcycle Chain

Motorcycle Chain,Motorbike Chain,Dirt Bike Chain,Motorcycle Security Chain

Chongqing Haike Thermal Insulation Material Co., Ltd. , https://www.haikediglobal.com