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Ford: Russian Car Market May Stabilize by Autumn
The head of Ford Motor Co.'s 50:50 carmaking venture with Moscow-based assembler OSJC Sollers tells Russia's Vedomosti newspaper he expects the country's collapsing car market will stabilize this autumn.
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The head of Ford Motor Co.'s 50:50 carmaking venture with Moscow-based assembler OSJC Sollers tells Russia's Vedomosti newspaper he expects the country's collapsing car market will stabilize this autumn.
CEO Ted Cannis predicts sales will continue to worsen through August, then begin to improve as inflation eases.
Car sales in Russia dropped 10% in 2014 and were down 36% in the first half of 2015, according to the Moscow-based Assn. of European Businesses. Ford's sales in the country fell 38% last year and plunged 56% in January-June.
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