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New Car Sales Down 8%

Sales of new cars and light commercial vehicles are down 8 percent for October, versus the same period last year, according to the Association of European Businesses Automobile Manufacturers Committee.

This October 234,481 units were sold; this is 19 thousand units less than in October, 2012. From January to October, 2013 the sales of new cars and light commercial vehicles in Russia decreased by 7 percent in comparison to the same period in 2012.

"General sales trend remains weak on a rather consistent level — neither do we see signs for improvement, nor for further deterioration," said Joerg Schreiber, chairman of the committee. "As we are approaching the year end, it becomes clearer that the long-awaited market stabilization is unlikely to happen before the end of 2013," he added.

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