Renault Sees One-Third of Russian Car Market Vanishing
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Renault-Nissan Chief Executive Officer Carlos Ghosn said Russia’s car market will probably shrink by another fifth this year, putting pressure on the alliance he leads after it teamed up with Soviet-vintage OAO AvtoVAZ to strengthen its leading position in the country.
This “is one-third of the Russian market disappearing in a couple of years,” Ghosn said in an interview with Bloomberg Television yesterday in the Paris suburb Saint-Denis. “It’s already pretty bad. With the forecast we have in 2015, we should be at the end of the tunnel, but we never know.”