Car Sales In Ukraine 32% Up In October 2010

KIEV, Ukraine -- Car sales in Ukraine in October 2010 grew by 31.7% compared to October 2009, to 17,000 vehicles, according to a posting on the Web site of the AUTO-Consulting information and analytical group.

VAZ Lada

In October, "record high sales in the post-crisis period were seen."

Among the factors that boosted sales was the invigoration of car crediting that started in early autumn. Taking into account the time loan formalization takes, the results started to be visible in October.

In addition, the group's analysts believe that, because of the increase in the price of agricultural products, farmers successfully ended the season and "hurried to convert hryvnias into new cars."

For this reason, in particular, an increase in sales of low-cost cars was seen. VAZ cars broke their post-crisis sales record.

In addition, the short election campaign provided the public engaged in the activities with additional incomes, and the peak of funding was in October.

"The [election campaign] participants did not earn much [money], but they influenced the supplies of low-cost cars to salons," the experts said.

The fluctuating hryvnia rate stability also contributed to the growth on the car market, as part of the public was encouraged to buy foreign currency and invest the funds in new cars.

Source: Interfax-Ukraine

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