UPDATE 1-Russia's February car sales down 62% year-on-year, says AEB

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine.

(Adds details, background) MOSCOW, March 6 (Reuters) - Car sales in Russia collapsed by 62.1% year-on-year in February, the Association of European Businesses (AEB) said on Monday, as Western sanctions continued to cause problems for the industry. The AEB said 41,851 vehicles had been sold during February, compared with 110,441 vehicles in February 2022. Russia's auto industry has been one of the hardest-hit sections of the economy following the imposition of Western sanctions last year after Moscow ordered its troops into Ukraine. Car sales collapsed by 58.8% last year, according to the AEB, which surveys Russian car manufacturers. The industry had previously been heavily reliant on Western investment, joint partnerships, supply chains and parts - all of which remain seriously disrupted.

(Reporting by Reuters;)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

UPDATE 1-Russia's February car sales down 62% year-on-year, says AEB

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio

off-the-wire

UPDATE 1-Russia&apos;s February car sales down 62% year-on-year, says AEB

By Reuters

Reuters

Reuters

UPDATE 1-Russia's February car sales down 62% year-on-year, says AEB