Car sales increase by 45% y-o-y in August

Sales of new cars grew by 45% y-o-y in Ukraine to 21 ths in August 2011, Auto Consulting reported yesterday. August sales represented a new post-crisis peak and exceeded the previous peak in July 2011 by 4.8%. The brand leaders in August were AvtoVAZ (13% of total sales), Hyundai (11%) and ZAZ (9%). Vitaly Gorovoy: We attribute the growth to a gradual recovery in bank lending and rumors about an introduction of duties on imported cars. The greatest benefit from the sales pickup should be Bogdan Motors (UX: LUAZ UK, U/R) and UkrAvto (UX: AVTO UK, N/R), which are producers and distributors AvtoVAZ/Hyundai and ZAZ cars, respectively.