Page 90 - RPTRusFeb17

9.1.2 Automotive sector news
PwC predicts that Russia’s car sales will increase for the first time this year in several years to 7% y/y. The sales of new passenger cars (excluding LCV) in Russia may to reach 1.4mn units., According to a PwC study, Vedomosti reported. At the end of 2016, sales of new cars in Russia fell by 12% to 1.311mn. The main change is the fall in oil prices. PwC believes that an average oil price of $55 will boost the demand for cars in Russia. Recent consumer polls also found that Russians are starting to think about making big ticket purchases again since the start of this year. PwC also experts total truck sales growth in Russia by 5% to 56,000 units in 2017. In 2016 there was a modest increase of
90 RUSSIA Country Report February 2017 www.intellinews.com