Russian Car Crash

Carmaker forecasts 30% collapse in Russian car market by 2025.

Sales of new cars and light commercial vehicles in Russia could decline by 21-30% in 2025 if high interest rates persist, Avtovaz CEO Maxim Sokolov said on Nov. 19, according to the state-owned TASS news agency.

Sokolov attributed the anticipated decline to customers diverting savings from car purchases to bank deposits due to elevated interest rates.
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