Russian new-car sales plunged 84 percent in May, as sanctions and international isolation brought an industry that had once been a showcase for foreign investment to a near standstill.
Fewer than 25,000 vehicles were sold last month, the Association of European Businesses (AEB) said in a statement on Monday, the lowest level since at least 2006 and less than a tenth of the monthly levels seen in peak months in the past.
President Vladimir Putin’s Feb. 24 invasion of Ukraine spurred a wave of sanctions from the U.S. and its allies, as well as disruptions of supplies from a broader range of countries.