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Russia : car sales decline worsens

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New car sales decline in Russia deepened in February, falling 38 percent year-on-year, following a 33 percent drop in January. According to figures released by the Association of European Businesses (AEB), 134,912 cars and LCVs were sold last month. The association attributes the plunge to increased customs tariffs, high loan interest rates and the rouble devaluation. The AEB expects the downward spiral to continue. (AD)
|  13/03/2009  | 
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