Bloomberg News

Russian Passenger Car Sales May Drop 60% in 2009, Minister Says

October 14, 2009

Russian sales of passenger cars may drop 60 percent this year, while deliveries of light commercial vehicles may slump 70 percent, Industry and Trade Minister Viktor Khristenko said.

Car sales may fall to 1.4 million vehicles in 2009, Khristenko told the State Duma, Russia’s lower house of parliament, according to a transcript e-mailed by the ministry today.

The share of cars assembled in Russia, including foreign- brand vehicles, will jump to 49 percent of the total this year, compared with 38 percent in 2008, he said. Commercial vehicles manufactured in Russia will account for 75 percent of the total in 2009, an increase of 16 percentage points from a year earlier.

Foreign automakers with production lines in Russia include Ford Motor Co. (F:US), Renault SA (RNO) and Toyota Motor Corp. (7203) Sales have dropped as Russia’s sharpest economic contraction on record slashed demand.

To contact the reporter on this story: Paul Abelsky in Moscow at pabelsky@bloomberg.net.

To contact the editor responsible for this story: Chris Kirkham at ckirkham@bloomberg.net


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