A report by JATO Dynamics has shown that despite being an emerging market, new car sales in Russia shrank by over 1.3 million units in 2009, and that the trend has continued through the first quarter of 2010, when the decrease was 26.6% (98,128 units), compared to the same period a year ago. However, Russia has now become the latest country to implement a scrappage scheme, and this is set to help, as Evangelos Hadjistavrou, Regional General Manager, JATO Dynamics, explains: “Russia remains one of the most important markets in Europe, but the situation for new car sales is perhaps worse than for any other country in Europe; The new scrappage scheme is the latest addition to a complex pool of incentives in the Russian market aimed at stimulating new car demand, especially for domestic brands and locally-built cars.” 

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