Car sales in Russia up 31% in May

• Source: Xinhua
• [08:29 June 10 2010]
• Comments

Car sales in Russia grew in May for a second consecutive month to reach 157,900 units, up 31 percent at a year-on-year basis, according to latest statistics from the Association of European Business (AEB).

In April, Russia's car sales also went up 20 percent year-on-year, for the first time in 18 months.

However, the total units sold from January to May still plunged 5 percent year-on-year.

The surge of car sales could mainly be attributed to the cash-for-clunkers programs initiated in March, which Prime Minister Vladimir Putin announced earlier would be extended with additional governmental fund injection.

The car sales in Russia dropped by 49 percent last year due to the financial crisis, but the Russian auto industry is gradually recovering from the crisis this year.