RUSSIA’S AUTO SECTOR FACING A TOUGH 2009, BUT BIG PLAYERS SHOULD RIDE OUT SLUMP
February 1st, 2009
BY MARK ROWE
AUTO manufacturers and industry associations point to a significant dip in sales and production in Russia this year. JAMA, the Japanese Automobile Manufacturer's Association, predicts auto sales will fall by 18%, while PricewaterhouseCoopers Russia forecasts a 25%-50% drop in Russia's overall car sales this year, with Russian domestic car production dipping to 1.6 million vehicles from 3.2 million in 2008.
Recent tariff increases - designed to protect Russia's beleaguered domestic car manufacturers - have typically sent prices for used foreign-made ...
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