The president of Ford Sollers does not expect a recovery in the Russian market until 2017

The president of Ford Sollers does not expect a recovery in the Russian market until 2017

Gazete.ru – The president of Ford Sollers: Ted Cannis has told Gazeta.ru that the polical and economic instabilities will have negative effects on the Russian automobile market during the course of the next couple of years and the market will start to shrink seriously as of the first half of 2015, unless government subsidies come to rescue.

The Russian market shrank by 5.5% in 2013, with 2.78 million vehicles. 1.58 million automobiles have been sold within the first eight months of 2014, on the other hand, indicating a shrinkage rate of 12%.

Ted Cannis has admitted the benefits of the utilisation and incentive credit programmes, however added that the establishment of customer confidence, in other words: stability, is compulsory in order to achieve market recovery.