RUSSIA
Suddenly the heat has vanished
Russia’s car sales rally fizzles out as year comes to a close
Published: Thu, 17 Jan 2013 19:56:16 GMT
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Russia’s car market suddenly feels the chill winds of Europe’s entrenched economic downturn - Earlier rose-tinted visions for a continuing breakneck expansion in Russia’s new car sales, have given way to markedly more down-to-earth projections

New passenger car sales in Russia, now Europe’s second biggest car sales arena, rose last year by an outwardly impressive 11.1 per cent to 2.7 million cars.

But that hides the fact that after three years of unwavering strong recovery growth Russia’s rebound has finally run out of puff, pointing to a prolonged spell of markedly cooler trading during the current year.

In pin sharp contrast to last year’s hot summer car sales streak, new car sales during the final 4th quarter fell 1.3 per cent, dragged down by yet another tell-tale 2 per cent drop in sales in December ...more

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