Russian Sales Off Rails Again in November
Chairman Joerg Schreiber of the Association of European Businesses’ Automotive Manufacturers Committee contrasts last month’s decline with brisk November 2014 sales driven by buyers trying to beat plummeting exchange rates.
There’s no Christmas cheer on the horizon for Russian vehicle manufacturers, with November sales plummeting 42.7% to 131,572 units.
The Association of European Businesses’ Automotive Manufacturers Committee says the latest result left the year-to-date total down 34.5% at 1,454,253 units.
Committee Chairman Joerg Schreiber says the big monthly drop’s origins go back a year.
“The ruble was plummeting and customers were storming dealer showrooms to put their money to use before car prices caught up with the new exchange-rate reality,“ Schreiber says.