The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
Newly released figures show that car sales in Russia are up 14.7% compared with this time last year.
Numbers for car sales in 2017 are thus far up on the whole, hitting an aggregate total of 5%.
The biggest winner has been Russia’s domestic automaker AvtoVAZ whose sales were up 22% compared with May of 2016.
Foreign cars also increased their sales with South Korean companies KIA leading the charge followed by Hyundai, Toyota, Renault and Volkswagen.
Luxury brands Mercedes-Benz and BMW were also up in their respective shares of the market.
A stronger Rouble combined with a generally good economy has seen car sales catch many dealers off-guard. Many have reportedly run out of popular models due to unexpectedly high demand.
According to Sergey Tselikov of the Autostat, an agency which monitors trends in the car market,
“I think that the trend for market growth will continue, and turn into a stable long-term trend”.