Russia’s auto sales in Aug down 62.4% year on year, AEB says

New car sales in Russia in August fell 62.4% from a year earlier, after a drop of 74.9% in July, the Association of European Businesses (AEB) said on Tuesday.

A total of 41,698 new cars were sold, the AEB said, down from more than 110,000 in August 2021.

Russia’s auto industry, heavily reliant on foreign investment, supply chains and parts, has been hit by Western sanctions imposed on Russia in response to its invasion of Ukraine in late February.

The 62.4% fall in August was the smallest monthly drop since then.

Many factories have suspended production and furloughed workers due to shortages of high-tech equipment and an exodus of Western manufacturers.