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. Last Updated: 07/27/2016

Car Sales Hit Plateau

After an increase of 5 percent in October, automobile sales in Russia in November were flat in annual terms for the first time in more than two years, the Association of European Businesses said Monday.

The association said 240,322 units were sold last month and 2.68 million in the first 11 months of the year, up 12 percent year on year. The group expected at least 2.9 million cars to be sold in Russia during 2012.

Western carmakers, including General Motors, Ford, Renault and Fiat, are investing heavily in Russia to take advantage of a market that is expected to overtake Germany as Europe's biggest sometime this decade.

(Reuters)