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Collapse of Russian car market worsens
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 The collapse of the Russian car market worsened last month as new car sales nearly halved, according to the Association of European Business (AEB). Sales were down 47 percent last month year-on-year, after a 38 percent fall in February. New car sales were down 40 percent for the first quarter of 2009. Russia's buying power has been curbed by job losses and salary cuts. The devaluation of the rouble has also made foreign cars less available to Russians. AEB has cut its forecast for full-year car sales to 1.7 million from 1.9 million previously. That would represent a 46 percent fall from 2008.
| 09/04/2009 |
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