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36%  
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  • Putin blames higher car prices on foreign producers' exit from Russia

    12/15/2023 5:23:26 AM PST · by marcusmaximus · 5 replies
    Reuters ^ | 12/14/2023 | Reuters
    The departure of foreign auto makers from Russia has ultimately caused domestic car prices to rise, President Vladimir Putin said on Thursday, a rare acknowledgement of the harm caused by Western measures imposed over Moscow's actions in Ukraine. Most European, Japanese and South Korean carmakers suspended production and gradually left the Russian market following Russia's February 2022 invasion of Ukraine, taking technology, know-how and access to parts with them. Putin said car prices had risen by about 40%, without specifying a period, blaming this on low production and domestic carmakers' increased costs as they import components. "When European brands left...