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Russian New Car Sales Surge 51% in August on Cash for Clunkers

Russian new car sales jumped 51 percent last month from the same period last month as consumers took advantage of the government’s cash-for-clunkers program.

Sales of automobiles and light trucks reached 168,627 in August, pushing the year-to-date total to 1.14 million, or 14 percent more than at the same period last year, the Association of European Businesses in Moscow said.