NEWS & EVENTS: Breaking News
02.07.2009 10:02
July 2. Two Russian assembly lines of foreign car makers – Ford and General Motors – halted production as of July 1 and analysts are confident that car assembly lines in Russia will see sporadic stoppages, since the crisis has taken a tool on domestic auto purchases. In January-May 2009, car sales in Russia nearly halved versus the year-earlier period when the market grew due to high revenues and available credits. In addition, the data of the Association of European Business which keeps records about car sales underscore that the bottom has yet to be reached: in May sales dropped 58% year-on-year. This was the reason behind GM’s decision to stop output of Chevrolet Captiva and Opel Antara cross-overs on the Petersburg-based plant.
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