May
12

Car Crash

Prior to the Russian takeover of Crimea in 2014, new automobile sales in Russia were at a rate of about 200,000/month or 2.5 million a year. After the annexation and the imposition of some sanctions by the West, which meaningfully reduced Russian living standards, vehicle sales slid to about 125,000/month or 1.5 million/year. In March of this year, they plummeted to 50,000/month, and in April to just 30,000/month.

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