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Ghosn: Russian Auto Market Will Shrink by One-Third
Renault-Nissan alliance CEO Carlos Ghosn tells Bloomberg Television that further contraction of the Russian car market this year could cut sales volume by about 33% from a peak in 2012.
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Renault-Nissan alliance CEO Carlos Ghosn tells Bloomberg Television that further contraction of the Russian car market this year could cut sales volume by about 33% from a peak in 2012.
Russian demand for new passenger cars and light-duty commercial vehicles climbed 11% to 2.94 million in 2012. Analysts predicted the market there would surpass Germany by this year. Instead, sales fell 5% to 2.78 million in 2013 and 10% to 2.49 million last year, according to the Moscow-based Assn. of European Businesses.
The AEB has cautioned that the weak ruble, falling petroleum prices and threat of economic recession could shrink Russia's car market 24% to about 1.9 million units in 2015.
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