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Ukraine’s automobile dealerships expect sales growth in 2016

However many market gamers believe the industry has actually already turned the corner, and will start on an upwards track again this year. Ukrainian dealers sold 50,932 new cars in 2015, with the marketplace’s value estimated at $1 billion, according to the Ukrainian Automobile Manufacturers Association. For contrast, 213,322 vehicles were offered in 2013. The public is putting off new purchases as uncertainty remains. At the same time, with the hryvnia’s value falling by more than two-thirds since 2013 and high interest on loans has actually functioned as a further brake as needed. But despite the economic crisis, sell new cars has actually been progressively picking up considering that June 2015. In January and February sales enhanced by 22.6 and 43.7 percent against the same months in 2014, inspiring moderate optimism among market gamers. The reason for the uptick is postponed demand, according to Oleg Nazarenko, the general director of the National Car Importers and Dealers Association. In 2014 alone, Ukrainians withdrew deposits worth $33 billion from the banking system, which cash has actually not yet returned to the banks. A few of it is going to be invested in cars, Nazarenko thinks. “People can’t delay purchases endlessly– ultimately, vehicles start breaking down,” Nazarenko informed the Kyiv Post. “The political and military situation in the nation has cooled down … so individuals have started living a bit more easily, and are beginning to buy cars.” Strained middle class The drop in car sales in Ukraine has actually been more remarkable than in Russia, which is likewise experiencing fast devaluation of its currency and economic hardship. With a population a 3rd of that of Russia, Ukraine offered 30 times fewer automobiles. Russians bought 1.6 million brand-new vehicles in 2015, according to the Association of European Businesses. “The scenario in the vehicle market is an indicator of the country’s middle class,” states Sergey Borovik, the marketing director of the AIS Group, which focuses on trading and servicing the mass market, low cost …
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