Exec: Russia’s AvtoVAZ sees no serious car market recovery in 2017

MOSCOW, Aug 23 (PRIME) -- The Russian car market will unlikely recover significantly in 2017, President of car producer AvtoVAZ Nicolas Maure said at a forum on Tuesday.

“Unfortunately, we do not expect a significant market recovery next year. There will be a 10% (increase) at best, in the worst case scenario it will be flat (on the year). We need to be prepared to very restricted market conditions,” Maure said.

Under the basic forecast of the company, it will sell about 260,000 cars in 2016. According to a forecast made by auditor PricewaterhouseCoopers (PwC), the entire Russian car market will shrink 14% to 1.1 million cars this year.

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