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Russian Car Sales Slump for Seventh Month as Plunge Eases to 28%

Volkswagen sales
Imaginechina/AP Images

Russian car sales dropped at the slowest pace since their slump resumed in January as the government used subsidies and other incentives to counter falling consumption.

Sales of new cars and light commercial vehicles declined 28 percent in July from a year earlier after a 30 percent decrease in June, the Association of European Businesses in Russia said Monday in a statement. That matched the median of six forecasts in a Bloomberg survey.