December 10, 2012 / 7:58 AM / in 5 years

Russian car sales flat in November - AEB

MOSCOW, Dec 10 (Reuters) - Russian car sales were flat in November in annual terms for the first time in more than two years, the Association of European Businesses (AEB) said on Monday, after a rise of 5 percent the previous month.

AEB said 240,322 units were sold last month and a total of 2.68 million in the first 11 months of the year - up 12 percent year-on-year.

The AEB expects that at least 2.9 million cars would 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 some time this decade.

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