AvtoVAZ sees Russian car market falling 20–25% in 2020

MOSCOW, Jul 6 (PRIME) -- The Russian car market is projected to decrease 20–25% in 2020, while the upward trend is expected by the end of the year, Olivier Mornet, executive vice president for sales and marketing at carmaker AvtoVAZ, said on Monday.

“We hope that the market will show an uptrend by the end of 2020, but in annual terms it will still lose 20–25%,” Mornet was quoted by AvtoVAZ as saying.

Industry and Trade Minister Denis Manturov said in late June that car sales in Russia could reach the pre-crisis level in 2021.

According to the Association of European Businesses (AEB), sales of new cars and light commercial vehicles (LCVs) in Russia fell 51.8% on the year to 63,033 units in May.

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