MOSCOW — New-car gross sales in Russia fell for the seventh month in a row in January, the Affiliation of European Companies (AEB) mentioned, because the sector continues to endure from a world scarcity of some components regardless of a restoration in home demand.

Gross sales of latest automobiles fell 3.7 p.c to 91,662 models, the AEB mentioned.

“Historically, January is a month of low new-car gross sales quantity,” Thomas Staertzel, Chairman of the AEB Vehicle Producers Committee, mentioned in a press release.

“As forecasted, we don’t anticipate any quick market restoration this yr, however nonetheless hope that the development will change in its second half.”

The AEB, which represents overseas buyers in Russia, mentioned final month it anticipated new-car gross sales development to gradual to three.3 p.c in 2022 with gross sales of 1.72 million models after the market grew by 4.3 p.c in 2021.

New-car gross sales have been on the rise within the first half of 2021, pushed by pent-up demand after restrictive well being measures launched to fight the unfold of the coronavirus hit gross sales in 2020.

• Click on right here for Russia gross sales in January by model.

Together with elements affecting the worldwide auto trade, together with a scarcity of digital elements, logistics challenges and better prices of supplies, recent sanctions towards Russia threatened by Washington, may minimize it off from world digital provides and additional hamper its automobile trade.

Russia’s largest automaker AvtoVAZ, the producer of Lada automobiles, needed to droop their meeting nearly each month final yr because of elements shortages.

Chip shortages will probably preserve 2022 automobile gross sales in Russia near final yr ranges, mentioned Vladimir Bespalov, an analyst at VTB Capital.

The Russian automobile market counted among the many most promising globally till 2014, encouraging overseas automakers to construct their factories there. However a pointy drop within the ruble and financial headwinds, partially brought on by Western sanctions towards Moscow after the 2014 annexation of Crimea, led to extended stagnation.