Russian car production falls 27.7% y/y during 2015

IHS Automotive does not forecast positive growth rates in the industry before 2017.

Car production in Russia fell 27.7% year on year (y/y) in 2015, reports Interfax citing data from the Russian Federal State Statistics Service (RosStat). Automakers produced a total of 1.2 million units in the country last year, marking a sharp decline from 2014 levels. Similarly, truck production declined 14.7% y/y to 131,000 units while production of buses shrank 17% y/y to 36,700 units. For December 2015, the figures were not very different as car output fell 38.9% y/y, while truck and bus production was down 1.4% y/y and 16.2% y/y, respectively. The agency did not provide absolute production figures for the latest month.