Russia’s vehicle output fell 63% on the year to 578,093 units in the first ten months of this year according to data issued by an industry source.
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ASM Holding, which monitors the country’s automotive industry, said in a statement car output fell 61.9% on the year to 482,370 units, of which output of foreign-brand cars fell 56% on the year to 227,552 units.
Also included in the total are 155,951 cars produced in the period by companies operating under industrial assembly agreements, down 51.9% on the year.
Russia’s vehicle sector is suffering this year from sharply reduced demand due to the effects of recession and a squeeze on credit.
