Pursuits
Russian Car Sales Decline More Than Forecast as Distress Spreads
- Car sales fall 29% in January, more than 23% median in survey
- Government readies $650 million in additional aid for industry
Russian Economy: What's the Endgame for Vladimir Putin?
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Russian car sales plunged more than forecast in January, extending a collapse last year that’s forcing the government to plow billions more to support the ailing industry.
Sales of new cars and light commercial vehicles fell 29 percent from a year earlier after a 46 percent drop in December, the Association of European Businesses in Moscow said in a statement on Monday. The median of four estimates in a Bloomberg survey was for a 23 percent decline.