Russian auto sales fell 62.4% year on year in August

New car sales in Russia dropped 62.4% from a year earlier during August, after a drop of 74.9% in July, according to the Association of European Businesses (AEB).

A total of 41,698 new cars were sold, dropping from over 110,000 in August 2021.

Russia’s auto industry has been hit by Western sanctions imposed on Russia after the military conflict between Russia and Ukraine intensified on February 2022.

The 62.4% decline in August was the smallest monthly drop since then.

Many factories have suspended production and furloughed workers also because of shortages of components.