OREANDA-NEWS. May 13, 2010. For the first time in a long time, the Russian automotive market showed growth in April, expanding 20% y-o-y. Retail car sales by Sollers outpaced general sales on the market. In April, the company saw sales jump 51% over the same month a year earlier.

On May 12, the European Business Association released data on sales of new passenger cars and light commercial vehicles in Russia in 4M2010. Four-month sales on the Russian automobile market declined 13% y-o-y to 456,200 units. In April, passenger car sales on the market picked up 20% y-o-y to 163,300 units.

For the first time in a long time, monthly sales showed an annualized growth in a sign of a recovering demand on the market, which was specifically bolstered by the state ‘cash-for-clunkers old car utilization program, with Avtovaz remaining the prime beneficiary.

4M sales by the company advanced 12.5% y-o-y, against an overall market contraction of 13%. In April, sales by Sollers soared 51%, vs. the overall market growth of 20%. In our view, Sollers owes its success to a diversified model range, a competitive pricing policy and a focus on SUV production.