MOSCOW (Pakistan Point News / Sputnik - 17th February, 2021) The sales of new passenger cars and light commercial vehicles (LCVs) in Russia are projected to grow by 2.1 percent this year after suffering from a 9.1 percent downfall last year, Tadzio Schilling, the CEO of the Association of European Businesses (AEB) told Sputnik.
"For the automobile industry, we expect that in principle, the more or less stable, slightly positive trend of 2020 will continue. We expect the market growth in the rough order of 2.1 percent if there are no major negative events that will affect this development. This is obviously much less than the market participants would want to, but at the same time it is also a sign of gradual recovery and we rather have a positive than a negative surprise at the end of the year," Schilling said.
According to the AEB's estimations, 2021 will add sales of only 33,000 more new passenger cars and LCVs, while the total sales would amount to 1,632,000 new cars.
As AEB has members outside the European region, in its statistics it also counts the sales of cars by producers from China, South Korea, the United States and India, among others.
