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September 23, 2009

RUSSIA: Car output down 63% this year

Car production in Russia fell 62.6% year-on-year to just 369,000 units in the first eight months of the year, according to government data.

Car production in Russia fell 62.6% year-on-year to just 369,000 units in the first eight months of the year, according to government data.

The Industry and Trade Ministry figures also showed that the output of foreign-branded cars fell 54.2% on the year to 181,200 vehicles in January–August.

Companies operating under industrial assembly agreements with Russia produced 123,600 cars in the period, down 48.5% on the year. Industrial assembly agreements eliminate or substantially reduce import duties on foreign car components, Prime-Tass noted.

The output of Russian-branded cars fell 68.3% on the year to 187,000 units in the same period.

Russia’s car industry is suffering the effects of a sharp economic recession that has halved the car market this year.

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