Ford Sollers sees no fast recovery of Russian car market in 2016

MOSCOW, Jan 13 (PRIME) -- The Russian car market will not recover quickly in 2016, car producer Ford Sollers said in a statement on Wednesday.

“We expect no fast recovery of the market, but believe that the market may stabilize at the level of 1.3–1.5 million in 2016, flat on the year, according to the most optimistic forecasts,” it said.

The company has no plans to adjust its development strategy for 2016.

“We will continue to upgrade our model range, adjust our cars to the needs of Russian customers, and do our best to localize and secure stability of the business in the long run focusing on profitability and efficiency of our operations,” the statement said.

Ford Sollers, a joint venture established by Ford Motor Company and Russian car maker Sollers in 2011, assembles Ford cars and runs factories in the Leningrad Region and in the Tatarstan Republic.

According to the Association of European Businesses (AEB), the Russian car market plummeted 34.5% on the year to 1.454 million units in January–November 2015.

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