Page 92 - RusRPTApr19

agency cited the head of Russian oil producer Lukoil as saying on March 11. There have not been discussions yet about whether to continue cuts in the second half of 2019, Vagit Alekperov, head of Lukoil, was quoted as saying.
9.1.2 Automotive sector news
The Russian market for commercial vehicles in 2018 grew, but its growth rates slowed and this year sales may go negative, according to PwC. IN 2018 sales in all segments of commercial vehicles increased in Russia. Sales of light commercial vehicles (LCV) increased by 3.2%, trucks - by 2.7%, and the bus segment showed the best dynamics - an increase of 11%, according to Autostat and PwC data. The growth of the Russian market of commercial vehicles has continued for three years in a row. It is recovering from the failed 2013–2015, when sales were halved, and never reached its peak in 2012. However, February saw the first contraction in sales y/y and analysts worry this year will see the market stall.
Russia's car and light commercial vehicles (LCVs) sales in February contracted for the first time in two years, dropping by 3.6% year-on-year and by 1.8% y/y in January-February overall to 0.133mn and 0.235mn units respectively, according to the latest data from the Association of European
92 RUSSIA Country Report April 2019 www.intellinews.com