Soaring prices following the exodus of Western automakers were the main “deterrent” to demand, experts say Sales of new cars and light commercial vehicles (LVC) in Russia more than halved last year compared to 2021 due to the impact of Western sanctions, the Association of European Businesses said on Thursday. A total of 687,370 new passenger cars and LVCs were sold in 2022, which is 58.8% less than in the previous year, when more than 1.6 million cars were sold in Russia. In December, the market plunged by 50.2% with 64,072 units sold, up from November, when Russians purchased 46,403 new cars. Although sale volum
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