Russia: it’s official – the car boom is over | beyondbrics:
"Auto sales in Russia dropped 5.5 per cent in 2013 in another sign that the consumer boom is over.
A total of 2.78m new passenger cars and light and commercial vehicles were sold in Russia last year, 5.5 per cent below the record level set in 2012, the Association of European Businesses, a business lobby group, said on Wednesday.
The AEB originally forecast that auto sales in Russia, after reaching a peak of 2.935m units in 2012, would be flat in 2013, but later downgraded its forecast two times as the market contracted during the course of the year.
Retail trade and private consumption in Russia have decelerated over the last six quarters reflecting an economic slowdown. Some improvement is expected this year."
'via Blog this'
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