Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.