Dealers started to stop selling cars because of the collapse of the ruble – RBC

Dealers started to stop selling cars because of the collapse of the ruble – RBC

Major stopped selling today for one to three days because of the strong devaluation of the ruble, told Tass. “Avilon” stopped the sale until Monday for the same reason, know the interlocutors RBC. Sales halted pending the correction of prices on cars. Major representatives and “Avilon” declined to comment.

Major Auto – dealership holding engaged in the sale of 35 brands of cars, working in Moscow and St. Petersburg, and has 11 dealerships in Moscow and two – in St. Petersburg. According to Tass, holding control two private persons – Pavel Abrosimov and Alexander Nikitin, the company has not officially disclose the financial data and ownership structure. According to Forbes, the holding company’s revenue in 2013 amounted to 88 billion rubles.

CG “Avilon” has 11 dealerships in Moscow. According to the “AutoBusinessReview ‘revenue in 2013 – 45.8 billion rubles., The sales volume – 33.6 thousand. Cars.

On Tuesday, the dollar rose in price by more than 15.6 rubles., To 80.1 rubles., Euro – 22 rubles., To 100.7 rubles. In addition, the Central Bank today raised its key interest rate from 10.5 to 17%.

The two sides RBC at the car say that dealers first stop selling because of rising exchange rates. A similar situation was in 1998, but then the dealers allowed to trade for foreign currency than they used, thereby hedging their risks. And in the crisis of 2008, the exchange rate did not grow as fast.

Almost all automakers in November anyway adjusted prices and prepare for the main increase in early 2015. Until now, market participants expect higher prices for cars an average of 25%, but now, given the current devaluation of the maneuver and the Central Bank, are revising their forecasts.

Now a huge demand for cars in the background of the devaluation expectations and price increases , says managing partner EURussia Partners Ivan Bonchev. Dealers told RBC that already at the beginning of December, many of them had a deficit of cars. Most likely, the dealers have complied with annual sales plans, thinks Bonchev, so by the end of the year will try to crank up. Manufacturer, in turn, can not dictate dealer prices, adds analyst.