Car sales in Russia drop 52 pct in Oct yr/yr - AEB

MOSCOW Nov 9 (Reuters) - New car sales in Russia fell 52 percent in October year-on-year, the same level of decline reported for September, data from the Association of European Businesses released on Monday showed.

The AEB data showed that the slump in demand for cars had cut sales of new cars and light commercial vehicles in the first 10 months of the year by 51 percent, or by 1.26 million units.

"October sales showed the same level of decline as in September compared to 2008, giving further indication that the market has stabilised but at a hugely reduced level compared to last year," David Thomas, chairman of the AEB automobile manufacturers committee, said in a statement. (Reporting by Robin Paxton)