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Car Sales in Russia to Drop by Up to 35% in 2015 - Forecast

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PricewaterhouseCoopers (PwC) has forecast a drop in car sales in Russia by 25 to 35 percent for 2015, the company said during a presentation in Moscow.

Russia's Central Bank Chairperson Elvira Nabiullina - Sputnik International
Russia
Russian Inflation for 2015 May Exceed 15%, Then Drop - Central Bank Head
MOSCOW, (Sputnik) PricewaterhouseCoopers (PwC) has forecast a drop in car sales in Russia by 25 to 35 percent for 2015, the company said during a presentation in Moscow.

PwC said sales would drop to between 1.52 and 1.75 million cars for 2015, according to its presentation entitled “Russian Automobile Market: Results of 2014 and Perspective Development.”

According to the Association of European Businesses, the sales of passenger and light commercial vehicles in Russia in 2014 dropped in comparison with the previous year by 10.3 percent, or down to 2.49 million cars.

A slump in global oil prices and Western sanctions, imposed on Moscow over its alleged role in the Ukrainian conflict, hit the Russian economy in late 2014. The ruble has lost about half its value against the dollar since summer.

Earlier on Monday, Russian Central Bank head Elvira Nabiullina said that the country's inflation rate may reach 15 percent year-on-year in 2015.

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