Russian automotive market sees signs of revival

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According to the data released by the Russian Federation Federal State Statistics Service, in January to April this year Russia passenger car output increased by 54.7%YoY to 283,000 units, its truck output went up by 37.4% YoY to 34,700 units while its bus output rose by 21.1% YoY to 8,800 units.

According to AEB Automobile Manufacturers Committee, in the first four months of 2010 Russia's sales of new cars and light commercial vehicles decreased by 13%YoY to 456,200 units.

April was the first month since October 2008 to see YoY growth in the Russian automotive market. According to AEB AMC, in April the country sales of new cars and light commercial vehicles increased by 20%YoY and by 29%MoM reaching 26,991 units. Among the top ten bestselling models of passenger cars so far this year, nine are produced in Russia.

AEB AMC said in its statement that "The scrapping program, launched in early March this year revived the demand for traditional Russian vehicles. Strong sales growth is observed for the second month in a row. As regards sales of foreign cars, which do not fall under any part of the government support program for the automotive industry, a positive trend is also observed. However, despite some positive signs, it is still too early to speak of a steady sales growth tendency."