Russia Car-Market Drop Forecast to Continue After 36% Plunge
- Deliveries in 2015 fell to six-year low of 1.6 million autos
- Sales are set to decline another 4.7%, business lobby AEB says
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Russian car sales are set to fall for a fourth consecutive year after plunging in 2015 to the lowest level since the country’s previous recession in 2009, according to the Association of European Businesses.
Demand will probably decline another 4.7 percent in 2016 to 1.53 million cars and light commercial vehicles, Joerg Schreiber, chairman of the AEB’s Automobile Manufacturers Committee, told reporters in Moscow Thursday. Sales dropped 36 percent to 1.6 million deliveries last year from 2.49 million in 2014, he said.