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BMW Postpones Decision on Russia Factory
CEO Norbert Reithofer tells reporters BMW AG has suspended plans to build its own manufacturing plant in Russia because of the country's uncertain economic future.
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CEO Norbert Reithofer tells reporters BMW AG has suspended plans to build its own manufacturing plant in Russia because of the country's uncertain economic future.
BMW currently assembles a wide range of cars and crossover vehicles from kits through its 16-year partnership with Kaliningrad-based contract producer ZAO Avtotor.
Last year BMW sales in Russia fell 16% to 35,500 units. Demand this year is down 14% compared with an overall 36% decline in the market, according to the Moscow-based Assn. of European Businesses
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