In total, 128 298 cars were sold – down by 78,228 units on February 2014. Year to date, 243,826 cars have been sold.

Joerg Schreiber, chairman of the AEB Automobile Manufacturers Committee, commented: “The market is entering a very difficult phase now, and February is only the beginning. Industry sentiment is the next few months will be extremely difficult, and that the market bottom has yet to be found.

“Good news from the macroeconomic side, such as the recent stabilization of the Ruble, raise hopes for an improvement in the longer term. Until then however, market participants will need patience and a long breath.”