Decline in Russian car sales forces over 500 dealers out of business
Data furnished by the European Business Association in early April showed 602,500 new vehicles were sold in Russia during the first quarter of 2014, a two percent decline over the previous year, Ural Business Consulting reports.
Sales of Ford vehicles fell the most in the first quarter of the year, marking a 27 percent dip in sales over the previous year.
Meanwhile, Daewoo sales also decreased by 25 percent. Sales of UAZ, Ssang Yong, Peugeot and AvtoVAZ fell 25 percent, 19 percent, 18 percent and 15 percent, respectively, according to Ural Business Consulting.
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