Russian Car Sales Plunge More Than Forecast as Ruble Hits Demand

Russian car sales plunged more than forecast in September, slumping the most in three months as a weaker ruble pushed automakers to raise prices.

Sales of new cars and light commercial vehicles contracted 29 percent from a year earlier after a 19 percent drop in August, the Association of European Businesses in Russia said in a statement on Thursday. That was worse than the median of four estimates in a Bloomberg survey for a 21 percent decline.