Ernst & Young Experts foresee bankruptcy of 30% Russian Auto Dealers

Famous audit and consulting company expects market growth only in 2016. 25.Nov.14 12:27 PM By Svetlana Siuhina Photo etoday.ru    567

Ernst & Young experts have made a detailed forecast of future development of auto market in Russia during 2015-2016. Rapid decrease of sales is expected in 2015. However in 2016 the market growth will take place. It will become stable and have positive value. The information is provided by “Izvestiya”. Russian Association of Auto Dealers expects third of all Russian dealers to leave the market in 2015. At the same time prices will increase by 10%. The level of sales has decreased by 12.7% over the last month of 2014. At the same time GDP growth is expected only in 2016. This will result in sales increase on auto market up to 6%. However such increase will be noticed only in the end of the next year. Ernst & Young specialists explained their methods of calculation. It is based on the fact that Russian market is not saturated enough at the moment. This rate is even lower in comparison with other countries from former Soviet Union which have already entered EU. All experts agree that first months of 2015 will be the most difficult and challenging for the auto producing industry.

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