What to Cast Around At the 2014 Moscow Motor Show

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What to Cast Around At the 2014 Moscow Motor Show

MIAS 2014

Several automakers are expected to unveil their new cars and concepts at Moscow International Automobile Salon next week

 

The Moscow International Automobile Salon comes every two years and now is due in next week for 2014, on 27 August. Automakers around the globe will uncover new cars and concepts at this only Russian event where German and Japanese automakers are expected to lead the show. The Crocus Exhibition Centre will host the show and centre stage for unveilings. Russia’s political situation has not been good for few years and it can’t be ignored because it had a bad impact on auto market as well. In the past few months, new car sales figures have declined in Russian market. According to Association of European Businesses, the new car sales in Russia have dropped by more than 20% in July, a month before the Moscow International Automobile Salon 2014.

 

 

The chairman for Association of European Businesses, Jorg Schreiber said that the market situation is annoying and worrying for the automakers from outer world and said the Russian market was “unlikely to improve fundamentally any time soon”. Best performing brand in this period was the Lada, they sold 28,014 units in last month a 25% drop of the performance same time last year. Several Japanese brands Hyundai, Toyota and Nissan are following the sales of Lada but with huge differences in numbers.

 

German automaker Volkswagen is also facing 16% decrease in sales since January. However, there are also some makes that are not only stable but also showing improvement in sales. These brands include Jaguar and Land Rover who have enjoyed 5% and 7% rise in sales respectively.

 

Russian customers are closely observing the situation and delaying the purchases, because banks and insurance companies have raised their rates to secure their own business base in expected crisis and they are in doubt about the future. The Moscow International Automobile Salon 2014 had been scheduled prior to all these uncertainties, and we will meet you there on 27th of August 2014 with more detailed reviews and news about the event. Keep on checking our blog for the latest happenings.

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