Russia's top carmaker Avtovaz may shorten work week as sales slump
8 Articles
8 Articles
Russia's top carmaker Avtovaz may shorten work week as sales slump
Russia's largest carmaker Avtovaz on Tuesday said it may shorten its working week to four from five days, a rare move from a major state-owned employer, as high interest rates and competition from China squeeze its sales.
According to the Autostat analysis agency, in the first half of the year, the car market fell by 26.3%, up to 530.375 units, the decline accelerated towards the end of the season, writes The Moscow Times. The largest car manufacturer...
The company is struggling to find enough customers, having already forecast last month that the Russian car market would shrink by as much as 25% this year.
The sale of cars in the Russian Federation has collapsed.
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