Russian car sales down 4 pct in March - AEB

MOSCOW, April 8 Mon Apr 8, 2013 10:20am EDT

Related Topics

MOSCOW, April 8 (Reuters) - Russian car sales fell 4 percent in March, year-on-year, after a rise of 2 percent in the previous month, the Association of European Businesses (AEB) said on Monday.

The AEB said 244,030 cars were sold in Russia in March and 616,770 in the first three months of 2013 - flat year-on-year.

It has estimated that 2.95 million cars will be sold in Russia during 2013, flat on 2012's figure of 2.94 million, as drivers curb spending due to concerns about economic troubles in Europe.

"That forecast still stands, but we will have to watch further developments closely. Intake of new customer orders in the first 3 months of the year has not caught up with the strong momentum seen in the same period last year. One reason for that may be the unusually long winter season," the AEB said.

Western carmakers including General Motors, Ford , Renault and Fiat have invested heavily in Russia to take advantage of a market that is expected to overtake Germany as Europe's biggest some time this decade.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video