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Car Sales Growth Slows

Sales of new cars and light commercial vehicles rose 27 percent in July from a year earlier, slower than the previous month's 40 percent growth, the Association of European Businesses said Monday.

Sales totaled 224,620 vehicles, led by 50,518 units for AvtoVAZ's Lada brand, the AEB said. Overall growth for the first seven months was 50 percent, putting Russia on target to sell 2.45 million vehicles this year, more than the previous forecast of 2.35 million.

"The expected pattern of strong but slowing growth continues into the second half," David Thomas, chairman of the AEB's automakers committee, said in the statement.

(Bloomberg)

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