Industry Minister: RussiaТs car industry will shrink in April
PETROPAVLOVSK-KAMCHATSKY, Apr 20 (PRIME) -- The Russian car industry will definitely experience a contraction in April, and it is unclear how long it will last, Industry and Trade Minister Denis Manturov said on April 19 during a show aired by Rossiya 1 television channel.
УIn the car industry, there was such a spike on the market in March of almost 20%, when people bought all leftover inventories. And we even had an increase of production, it amounted to about 10Ц12% in some segments of the car industry. The reason here is also understandable, as the rubleТs rate changed significantly, it became cheaper, and buyers materialized their savings in this way by switching them into cars,Ф he said.
УIt is absolutely obvious that we expect a contraction in April, and we cannot even give a clear forecast for how long this contraction or stagnation will continue in the car industry, in particular and in metals companies in general that are directly connected to each other.Ф