Russia’s April new car sales down 78.5% from a year earlier Reuters

© Reuters. New cars are seen parked at the Volkswagen Group Rus plant in Kaluga, Russia, March 30, 2022. REUTERS/Evgenia Novozhenina

(Reuters) – Russia’s new car sales fell 78.5% in April from a year earlier, shrinking for the 10th straight month, as logistics disruptions and rouble fluctuations caused severe shortages and soaring prices.

The Association of European Businesses (AEB) said on Wednesday that 32,706 new vehicles were sold in April, less than a quarter of those sold in the same period last year.

New vehicle sales are expected to shrink by at least 50% this year, following a 4.3% rise in 2021, the AEB said last month.

Sales of Lada cars at Russia’s largest automaker AvtoVaz fell 78 percent in April, AEB data showed.

Sales of new cars and light commercial vehicles in Russia fell 43 percent to 293,846 units in the first four months of 2022, the AEB said.

Until 2014, the Russian car market was one of the most promising in the world, encouraging foreign automakers to set up factories there.

Before the latest Western sanctions aimed at punishing what Moscow called “special military operations” in Ukraine, Russia sold 1.67 million cars last year, compared with nearly 3 million in the 2000s.

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