Russia's new-car sales rose 0.6 percent in January to 103,064 despite the introduction of a tax rise at the beginning of the month that had been expected to subdue demand, the Association of European Businesses (AEB) lobby group said.
“This is a positive outcome, especially considering the 2 percent increase in VAT implemented by January 1,” AEB Chairman Joerg Schreiber said in a statement.
Market leader Lada increased sales 3 percent during the month, while its closest competitor, Kia, boosted its volume 2 percent. Third-place Hyundai rose 24 percent, while No. 5 Volkswagen was up 11 percent. Renault, at No. 4, was the only brand in the top five brand to report a sales decline last month, as the French automaker's volume slipped 1 percent.
• Download PDF here for January sales by brand.
Other winners during the month of January were Skoda (+23 percent), BMW (+28 percent), Porsche (+58 percent), Volvo (+113 percent) and Jeep (+132 percent).