Russia significantly reduced the production of cars

The production of passenger cars in Russia decreased in January—February 2020 14.1% yoy to 212 thousand units, the Federal state statistics service.

In February production of passenger cars fell by 12% yoy, but grew by 25.2% compared to the previous month.

Recall that at the end of last year, production of cars decreased by 2.5% to the previous year, amounting to 1.5 million units (in 2018 — an increase of 15.3 per cent to 1.6 million units).

Rosstat also notes that the overall volume of industrial production in Russia increased in February 2020 3.3% yoy, after rising 1.1% in January. However, in comparison with the previous month, industrial production declined in February by 0.6%, but with the exception of seasonal and calendar factors, rose 0.5%.

For the first 2 months since the beginning of this year industrial production increased by 2.2% in annual terms.

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