OREANDA-NEWS. According to the Association of European Businesses, sales of passenger cars and light commercial vehicles in Russia by the end of May fell by 14.5% up to 107,665 vehicles. In the first five months of 2016 the Russian car market fell by 14.7% to 548,119 vehicles.

As noted in the AEB, the result of sales in May shows that the way to stabilize the market remains bumpy. At the same time when the car market experiences difficulties, the macroeconomic situation gives cause for cautious optimism. The prevailing view among experts is that the Russian economy has passed its lowest point and the forecast, at least, is stable and even positive until the end of the year, looking at 2017. This perspective, of course, is encouraging, but it should still be recognized by buyers before it materializes in their growing confidence and the subsequent activity in the market. At the moment, the patience – is the main item on the agenda, noted in the association. 

Leadership in the Russian car market is kept by AVTOVAZ, which sold in May 20597 vehicles, which is less by 10% compared to the last year. Second place in terms of sales was occupied by KIA – sales of 11997 cars (-3%) provided the Korean brand with the leadership in the market of foreign cars. The third line is occupied by Hyundai with 10603 sold cars (-22%).