Foreign Cars Moved Backward
For the first time in Russia, the sales of foreign cars suffered the monthly decline of 5.7 percent to 169,115 in October. Local dealers apprehend that lower efficiency will affect their bonus and the discounts that usually ensured the sales growth of nearly 30 percent to 40 percent.
Under the report of European Business Association, no more than 169,115 foreign cars were sold in Russia in October, which is 5.7 percent below the September sales and just 9 percent above the sales of October of 2007. For comparison, the market widened 2.2 percent on month in September, showing the annual growth of 22 percent.
The 10-month sales of the cars stepped up 36 percent vs. January to September of 2007, from 1,307,073 cars to 1,780,773 cars. Earlier, Avtostat downgraded its outlook for the 2008 sales from 3.16 million to 2.9 million.
Quite a number of brands went through decline in October. The list sets forth Hyundai (27 percent down on year), Ford (-18 percent), Nissan (-24 percent), Volvo (-20 percent), Chery (-72 percent), Dodge (-42 percent), IKCO (-83 percent), Hummer (-38 percent), Alfa Romeo (-50 percent). At the same time, Fiat surged 289 percent, Saab soared 161 percent, MINI stepped up 141 percent, Peugeot gained 102 percent, Honda grew 101 percent and Toyota went up 56 percent.
The October results were depressing but well expected, commented Avtomir Group Board member Igor Krolivets, pointing out that November will be even worse for sure, as the first days were of no good in terms of the sales. But the market of new foreign cars will show the annual growth of roughly 25 percent mostly thanks to the market of Moscow, the expert forecasted.
www.kommersant.com
All the Article in Russian as of Nov. 12, 2008
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