Page 80 - RusRPTAug20

Sollers: UAZ sales fell 12% YoY to 2,770 units in June and 27% YoY to 12,284 units in 1H20. Ford Transit sales (consolidated by Sollers) were up 1% to 1,088 units in June, but down 13% YoY in 1H20. We believe that this relative outperformance of the Ford Transit is due to the demand generated by ecommerce as well as state purchases. Overall, this supports our view that the Ford Transit will be the key driver for Sollers in the near term, while the outdated model range of UAZ will remain a drag (see our Sollers – 2019 IFRS; investment case remains blurred for more details).
AvtoVAZ remained the market leader, with its Lada and Niva brands accounting for 20.8% and 1.3% of the market in 1H20, respectively. The sales of Lada vehicles fell 24% YoY to 132,596 units in 1H20. The AvtoVAZ-Renault-Nissan-Mitsubishi alliance controlled 37.4% of the Russian market in 1H20, followed by Kia (12.8%) and VW (12.7%).
80​ RUSSIA Country Report​ August 2020 ​ ​www.intellinews.com