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German car makers hit by Russian slump
Zone(s): Germany, Russia ¦ Sector(s): Economy
[16 June 2014, CITY A.M.] Germany’s automobile manufacturers are suffering from the Russian downturn, according to reports in Der Spiegel over the weekend.
The magazine said that sales of Volkswagen and Opel vehicles had dropped by 10 and 12 per cent respectively in Russia during 2014 so far. The report also indicated that Opel had gone as far as to close its factory in Saint Petersburg for weeks at a time this year.