RUSSIA TO SEE SLOW RECOVERY FROM GLOBAL RECESSION
November 1st, 2009
BY MARK ROWE
SHOWROOMS full of Bentleys and Ferraris continue to grace Moscow's most salubrious boulevards, in a display of purchasing power that suggests global recession is a world away. The reality is somewhat different: the mainstream Russian car market has taken a swinging blow from economic collapse, its fortunes plummeting almost overnight.
In 2008, Russia sold 3 million cars, double the figure for 2005. But since then the news has been unrelentingly dismal, and has led to a few predictions - that Russia would sell 5 million cars a year by 2012 (Ernst ...
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