Renault-Nissan expects further shrinkage in Russian automobile market

Renault-Nissan expects further shrinkage in Russian automobile market

Prime – The general director of Renault-Nissan Carlos Ghosn expects that the shrinkage will continue in Russian automobile market in 2016. However, the company have no plans to exit the Russian market. In order to reduce the dependency on foreign supplies the localisation is going to be increased, told the businessman to Bloomberg, during the forum at Davos, Switzerland.

“Unfortunately, the prospect for the Russian market in 2016 seems to be downwards. We’ll experience further shrinkage. The situation doesn’t look too good, but the car manufacturers are preparing themselves accordingly, some are leaving the country, some, like us, believe that the Russian market will recover.” – said the senior manager.

According to Association of European Businesses data, the sales of Renault fell by 38% in Russia in 2015, to 120,400 vehicles and Nissan by 44% to 91,100.