Support The Moscow Times!

Car Sales in July Up 48 Percent

Car sales in July jumped 48 percent year on year as economic recovery and an extension of a cash-for-clunkers scheme continued to support growth, although extreme heat could be taking its toll on buyers in the current market.

The Association of European Businesses said Monday that 173,171 cars were sold in Russia last month, slightly less than the 174,838 in June, but much more than the 117,264 sold in a crisis-hit July 2009.

Volkswagen vice president and AEB member Martin Jahn said the figures were encouraging but warned against over-optimism for the remainder of the year.

"In August and September, there may be some slowdown due to holidays at the majority of Russian factories as well as emergency weather conditions in several regions of central Russia," he said.

Russia is currently gripped by a severe heat wave and the worst drought in decades, conditions likely to disrupt visits to car showrooms as well as high street shops.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more