Auto & Transportation

Affected by the global semiconductor supply shortage, Russian new car sales in October fell by 18% year-on-year. On November 8, the Moscow-based Association of European Enterprises (AEB) stated in a statement that in October, Russian new car sales were 126,204, a decline for four consecutive months. As of October, cumulative sales in Russia increased by 11% to 1.31 million vehicles.

u3000u3000The lack of cores caused Russia's October new car sales to drop by 18%

u3000u3000AEB said that they don’t think the chip crunch that caused car companies to suspend production or reduce production will end early. Thomas Staertzel, chairman of the AEB Automobile Manufacturers Committee, said in a statement: “We still have a long way to go to overcome the problems caused by global production shortages and supply chain breaks.” Staertzel said, the good news is that as of now, this year’s electric Car sales reached 845. Although the number is not large, it is 118% higher than the country's total sales of electric vehicles in 2020.

u3000u3000 The Russian Ministry of Economy said in August that it plans to provide subsidies to consumers who purchase domestically-made electric vehicles to stimulate demand and production. Russia hopes to increase its annual output of electric vehicles to 220,000 by 2030.

u3000u3000 In October, the sales of Russia's best-selling brand Lada dropped by 31%. In second place is Kia, with a 24% decline in sales. Third place Hyundai and fourth place Renault fell 15% and 36% respectively. Volkswagen ranked tenth in sales, with a decline of 52%.

u3000u3000Brands with rising sales include Toyota (5%), Peugeot (107%), Opel (102%), Citroen (44%) and Volvo (7%). Previously, BMW and Mercedes-Benz decided to report sales data on a quarterly basis, so AEB's data does not include these two brands.