Automakers Remain Pessimistic as Russian Sales Continue Slide
Industry insiders expect a difficult next few months, as the market shows little signs of near-term recovery. The recent stabilization of the ruble is raising hopes of longer-term improvement, though.
Russian new-vehicle sales plunge 37.9% in February, and the industry, awash in the red ink of a stalled market, believes the situation only will get worse.
The Association of European Businesses automobile manufacturers committee data shows February results down 78,228 units from year-ago to just 128,298 and the 2-month total off 32.1% to 243,826.
“The market is entering a very difficult phase now, and February is only the beginning,” committee chairman Joerg Schreiber says in a statement. “Industry sentiment is the next few months will be extremely difficult, and that the market bottom has yet to be found.”
But Schreiber says the good news from the macroeconomic side is that the recent stabilization of the ruble raises hopes for an improvement longer term.
“Until then, however, market participants will need patience and a long breath,” he says.
Lada continues as the market leader, although its February result fell 23% to 23,639 units, while second-place Hyundai declined only 5% to 13,233. Kia followed, off 6% to 12,563 units.
After two months, Lada sales are down 25% to 41,131, allowing Hyundai, off just 4% to 25,940, and Kia, down 2% to 23,909, to close the gap.
Chevrolet, in 12th place, was off a dramatic 74% in February to just 3,255 units, for a year-to-date total down 71% to 6,305.
Ford languished in 19th place, down 78% in February at 1,399 units and falling 70% for the first two months to 3,212.
The AvtoVAZ-Renault-Nissan group continued to dominate the shrinking market, with February deliveries down 30.6% to 45,509 units, still well ahead of Volkswagen Group, which slid 35.1% to 14,188.
Total General Motors sales (Chevrolet, Opel and Cadillac) plunged 78.1% in February to just 4,201 units. To-date volume is off 74.6% to 8,362.
Lada’s Granta was the month’s top seller, down 6.2% to 10,563 units to lead the year-to-date market at 18,320. Hyundai’s Solaris fell 7.6% for the month to 8,001, but remained up 3.9% year-to-date at 16,218.
Chevrolet’s Niva, once a top-10 regular, fell to 15th place with February deliveries off 33.9% to 2,394.
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