LAST UPDATE: 14.01
New car sales in Russia fell for a fourth straight month in October, falling 18.1% year-on-year to 126,204 units after falling 22.6% last month, the European Business Association (AEB) said on Monday. with Reuters.
“There is still a long way to go to overcome global production shortages and supply chain disruptions,” said Thomas Staertzel, a senior AEB executive.
Despite the monthly decline, car sales increased by 10.5% between January and October compared to the same period in 2020, when the coronavirus pandemic hit demand.
Staertzel added that 845 electric vehicle (EV) sales have been recorded so far this year, 118% higher than total EV sales in 2020.
Russia plans to subsidize the purchase of domestically-built electric vehicles to boost demand and production, the country’s finance ministry said in August. Russia aims to produce 220,000 electric vehicles a year by 2030.
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Source From: Capital
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