Wry & Dry

Tsar Vlad's car industry gets flat tyre

The data tells the story.

Essentially, the Russian car industry has halved three years!  

Car sales in Russia have collapsed

21 monthly car sales in Russia 2

Russia: Monthly Car Sales.  Source: Association of European Businesses

In the year to October, total sales were down 13%.  And its not just the imported cars.  Lada, the dominant local brand, has sales slipping 5%.  Domestic production fell by 16% last year.

And, as readers would expect with a much cheapened currency, the number of imported vehicles has fallen sharply:

KIA (-9%); Hyundai (-14%); Renault (-6%), Nissan (-24%); Land Rover (-20%); Mercedes (-12%) and Volvo (-26%) have all suffered.

The story is another one that reflects the poor state of the Russian consumer economy.