New AvtoVAZ CEO takes gentle approach to Russia’s continued decline

Russia's new car market continues to decline at a double-digit rate, with sales so far this year down 14.4%. While that is less than half the rate seen at certain points last year, it is clearly not healthy. "The automotive market is in a difficult situation. Since the start of 2014 it has shrunk by 50% - this is a major change," Frank Schauff, Chief Executive of the Association of European Businesses (AEB), told Automotive World. Similar sentiments were expressed by Joerg Schreiber, Chairman of the AEB Automobile Manufacturers Committee, who noted: "The market as a whole is still nowhere near the shape needed to at least consolidate at last year’s modest level."