While headlines over the last five years or so would suggest otherwise, Russia has the potential to be Europe’s largest new vehicle market. However, fallout from the last financial crisis had a staggering impact on the Russian economy and thus consumer spending power, and coincided with plummeting oil prices. A combination of factors led to a dramatic fall in new vehicle sales, and further tainted any prospect for short-term recovery….
Russian LV sales rebound as Europe’s problem child grows up
Industry analysts and global credit rating firms have their say on the near-term outlook for Russia’s new light vehicle market, with resounding optimism for positive growth in 2017. By Freddie Holmes