Russia's car industry is gradually recovering from the global financial crisis, Russian Prime Minister Vladimir Putin said on Tuesday in his annual address to the State Duma.
Russia's car industry, which is a significant employer in the country, was severely hit by the crisis last year. The ailing Russian car giant AvtoVAZ was hit hardest by the crisis, with sales plummeting due to reduced consumer demand and low-quality cars compared to foreign competitors.
"Car production volumes are again on the rise. The car industry is recovering just like other sectors of our economy," Putin said in his report to the Russian parliament's lower house on the government's work in 2009.
Sales of new cars in Russia plummeted 49% in 2009 from the previous year's record high to 1.46 million vehicles.
MOSCOW, April 20 (RIA Novosti)
