MOSCOW -- Russian new-car sales rose 6.2 percent in September to 157,371 as consumers moved to purchase vehicles ahead of a planned sales tax rise, the Association of European Businesses (AEB) lobby group said.
The AEB revised its full-year growth forecast to 13 percent from an earlier estimate of 10 percent, citing the January VAT rise.
"In view of the current market conditions, and the expected VAT increase from January next year, the AEB revises its sales forecast for the full year as follows: 2018 sales of passenger cars and light commercial vehicles in Russia are expected to exceed 1.8 million units, or 13 percent growth,” Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee, said in a statement.
• Download PDF, above right, for September and 9-month sales by brand, automaker and group.
Through September, sales rose 15 percent to 1.29 million.
The VAT increase is expected to lead to a slowing of demand next year because of higher car prices.