AEB CEO: Russia’s car market to grow 10% in 2018

MOSCOW, Dec 19 (PRIME) -- Russia’s car market is expected to grow around 10% in 2018, the Association of European Businesses’ (AEB) CEO Frank Schauff told PRIME in an interview released Wednesday.

The situation in other industries is more difficult, he said.

According to the AEB, Russia’s sales of new cars and light commercial vehicles (LCVs) rose 10.1% on the year to 167,494 vehicles in November and 13.7% to 1.625 million units in January–November.

Trade between Russia and the E.U. may grow 20% in 2018 despite the sanctions, Schauff also said.

The European business is loyal to the Russian market even in conditions of sanctions and large companies do not plan to leave the country, he added.

Schauff also said that de-dollarization in Russia and other countries will be held gradually under the pressure of the U.S.

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