Russian Car Sales May Recover by 2015, Industry Minister Says

Russian car sales may “fully recover” in five years, reaching 3.2 million to 3.4 million vehicles annually by 2015, Industry and Trade Minister Viktor Khristenko said today on state news channel Rossiya 24.

Sales plunged 56 percent last year to 1.4 million vehicles, and may rise as much as 15 percent this year to 1.6 million, PricewaterhouseCoopers said in an e-mailed presentation on Jan. 20. Under a pessimistic economic scenario may slide as much as 5 percent this year, the audit firm said.

To contact the reporter on this story: Anastasia Ustinova in St. Petersburg at austinova@bloomberg.net.

To contact the editor responsible for this story: Eddie Buckle in Berlin at ebuckle@bloomberg.net

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