The Russian market will not restart in 2016
- The Russian car market will not restart in the second half of 2016 but more likely in the second half of 2017.
- In the first 8 months of 2016, the Russian market is down 14.9% and the trend was not reversed in August (-18%), which makes expect a volume of 1.35 million vehicles over the year 2016 (against 1.6 million units in 2015).
- Economic parameters remain unfavorable with a purchasing power of Russian which fell down sharply due to the recession hitting the country following the collapse of oil prices and Western sanctions linked to the Ukrainian crisis.
- Suddenly, the Russian economic organizations and automakers expect a still weak Russian market in 2017 (1.3 million units), with a slight recovery late in the year.
- In this context, the volume of imports remain low. Import sales decreased 14.3% in the first half of 2016, whereas they had fallen by 49.6% in 2015 and 18.4% in 2014. They will reach their lowest point in 2017 (300 000 units against 315,000 in 2016, 370,000 in 2015, 730,000 in 2014 and 900,000 in 2013).
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