Russian car sales are likely to drop by 24 percent this year after falling 10 percent in 2014 as the country heads for recession, an automakers lobby group forecast.
Tag Archives: Russia
Russia’s ruble collapse hits Asian carmakers’ ambitions
Asian carmakers, which bet big on expanding in Russia, face a test of their commitment to a market they once hoped was set to surpass Germany’s by size as the ruble plunges and auto sales skid.
Manufacturers including Japan’s Nissan, China’s Great Wall and South Korea’s Hyundai and its Kia affiliate have been stepping up investment in Russia in recent years and are gaining market share in the country at the expense of European and U.S. rivals.
Daimler applies to open a car plant in Russia
Daimler has applied to the Russian city of St. Petersburg to set up a factory there, Interfax news agency reported, citing local officials.
Russia will extend car purchase incentive plan
Russia will earmark 10 billion rubles (€150 million) in 2015 to extend an incentives plan for new vehicle purchases, Industry and Trade Minister Denis Manturov said, as Moscow tries to help the country’s struggling car industry.
VW will stop selling Seat cars in Russia next year
Volkswagen’s Spanish division, Seat, will stop selling cars in Russia by early next year because of an economic downturn and a weakening ruble.
