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GM Slashes Output in Russia
General Motors Co. says its assembly plant in St. Petersburg, Russia, will operate at only four days this month, four days in September and eight days in October.
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General Motors Co. says its assembly plant in St. Petersburg, Russia, will operate at only four days this month, four days in September and eight days in October.
The dramatic cutbacks reflect a sharp decline in Russia's auto market as the country struggles with economic sanctions triggered by unrest in Ukraine and soft demand for the country's petroleum.
Sales in January-July were down 10%. But year-on-year volume plunged 17% in June and 23% in July, according to the Assn. of European Businesses.
The GM plant makes the Opel Astra sedan and Chevrolet Cruze sedan and Trailblazer SUV. AEB says July sales plunged 25% for Opel and 45% for Chevrolet. Overall market volume last month shrank to 180,800 units from 234,400 in July 2013.
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