In May, sales of new cars continued their brutal decline in Russia with an annual decrease of 83.5%, sunk by inflation and Western sanctions against them due to the military offensive in Ukraine.
In the fifth month of the year, 24,268 new light vehicles were sold, according to figures from the Association of European Businesses, which brings together manufacturers in the sector.
Compared to the month of April, it represents a reduction in sales of 52 percent.
This fall began in March, after the imposition of sanctions on this sector by the West, such as the export of spare parts to Russia.
The automobile production sector is one of the most affected in the country. In April, car production fell 85.4% at the annual rate.
In addition, the departure from Russia of many foreign brands, which had invested massively in this market since the 2000s, forced local factories to stop production.
According to the Russian statistical agency Rosstat, car prices have soared almost 50% since January, boosting demand in a country where household incomes have fallen and inflation hit 20-year highs.
Tens of thousands of workers at Russia’s top automaker, Avtovaz, have been out of work for months, with most production halted.
Inflation and ruble instability also reduce Russia’s import alternatives.
To avoid the restrictions, the country published a list in May with hundreds of goods that can be imported without the agreement of the patent holders.