(ANSA-AFP) - MOSCOW, JUN 6 - New car sales in Russia sank by
83.5 percent year-on-year in May, industry data showed on
Monday, as the effects of unprecedented Western sanctions hit
the country's economy and consumers. Only 24,268 cars and light
commercial vehicles were sold in Russia in May, said the
Association of European Businesses in Moscow. The collapse is
sales in May came after a 78.5 percent drop in April. Sales of
the country's most popular and affordable brand, Lada, whose
AvtoVAZ manufacturer was majority-owned by the Nissan-Renault
group, fell 84 percent to 6,000 units year-on-year. The West
slapped Russia with debilitating sanctions after the start of
Moscow's military campaign in Ukraine in February. In May,
Renault handed over its local assets to the Russian government,
marking the first major nationalisation since the onset of
sanctions. Renault controlled 68 percent of AvtoVAZ but was
under pressure to pull out of the country. (ANSA-AFP).
© Copyright ANSA - All rights reserved