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Russian car market to decline by 30% in 2015 — Volkswagen Group Rus CEO

June 18, 2015, 10:15 UTC+3

"The AEB forecast of 25% is too positive, it will be worse," Chief Executive Officer of Volkswagen Group Rus said

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© ITAR-TASS/Press Service of Volkswagen Group Rus

ST. PETERSBURG, June 18. /TASS/. The Russia's car market is going through tough times and will decline by around 30%, Chief Executive Officer of Volkswagen Group Rus Marcus Osegowitsch told TASS at the St. Petersburg International Economic Forum (SPIEF) on Thursday.

"The AEB forecast of 25% is too positive, it will be worse," Osegowitsch said. "The whole market is running at minus 38-40% for the first five months, but it will not continue", he said adding that in overall his forecast is "around 30%."

TASS reported earlier German automaker Volkswagen is planning to launch a new car Volkswagen Polo Sedan, Volkswagen Group Rus reported on Wednesday.

"The Volkswagen brand is planning to launch the new Polo Sedan, the official launch date will be announced later," the press service said. According to a source close to the production, the first new Polo cars may come down from the conveyor at the Kaluga plant this month.

The Volkswagen plant has placed its production in Kaluga, in the Grabtsevo industrial park. The plant manufactures Volkswagen Tiguan, and Skoda Rapid, as well as the Polo Sedan. The plants' production capacity is 225,000 cars per year and employs approximately 5,000 workers.

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