Horn
8th March 2015, 11:31 PM
March 4, 2015 15:21 CET
MOSCOW (Reuters) -- Russia's largest automaker AvtoVAZ has raised prices for its Lada cars for the second time this year because of the weaker ruble.
The automaker said on Wednesday it had raised prices for the country's best-selling brand by 4.8 percent or 20,200 rubles ($327) on average, after an increase of around 9 percent in January this year.
Many other manufacturers have also pushed up prices after the ruble fell by more than 40 percent against the dollar last year and continued weakening in 2015.
According to accounting firm PricewaterhouseCoopers, car prices in Russia, whose economy has been worsening because of a slump in oil prices and Western sanctions over Moscow's role in the Ukraine crisis, had risen by between 7 and 56 percent between September 2014 and mid-January 2015.
Sales of Lada cars in Russia fell 26 percent in January to 17,492, according to the Association of European Businesses. Overall, new-car sales fell 24 percent in the same period to 115,390, the AEB said.
Russian deliveries fell 10 percent to 2.4 million last year, but may fall as much as 35 percent this year, PwC said last month.
Automotive News Europe contributed to this report
http://europe.autonews.com/article/20150304/ANE/150309923/avtovaz-raises-lada-prices-again-on-weak-ruble
MOSCOW (Reuters) -- Russia's largest automaker AvtoVAZ has raised prices for its Lada cars for the second time this year because of the weaker ruble.
The automaker said on Wednesday it had raised prices for the country's best-selling brand by 4.8 percent or 20,200 rubles ($327) on average, after an increase of around 9 percent in January this year.
Many other manufacturers have also pushed up prices after the ruble fell by more than 40 percent against the dollar last year and continued weakening in 2015.
According to accounting firm PricewaterhouseCoopers, car prices in Russia, whose economy has been worsening because of a slump in oil prices and Western sanctions over Moscow's role in the Ukraine crisis, had risen by between 7 and 56 percent between September 2014 and mid-January 2015.
Sales of Lada cars in Russia fell 26 percent in January to 17,492, according to the Association of European Businesses. Overall, new-car sales fell 24 percent in the same period to 115,390, the AEB said.
Russian deliveries fell 10 percent to 2.4 million last year, but may fall as much as 35 percent this year, PwC said last month.
Automotive News Europe contributed to this report
http://europe.autonews.com/article/20150304/ANE/150309923/avtovaz-raises-lada-prices-again-on-weak-ruble