The Traderszone Network

Published in TZ Latest News 17 August, 2015 by The TZ Newswire Staff

Falling ruble leaves Russian carmakers with nowhere to turn

A steep decline in the rouble has hammered Russian carmakers by driving up the cost of the foreign parts they rely on, forcing them to raise prices at home and making them uncompetitive abroad. After a decade of annual sales growth in excess of 10 percent, the Russian car industry is now a victim of an economic crisis fueled by lower oil prices and Western sanctions over Moscow’s role in the Ukraine crisis.

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