Foreign automakers in Russia are benefiting from a stronger, more stable ruble, which is reducing their costs and supporting earnings in dollar terms at a time when the once-booming local market is expected to return to growth after four tough years.
The companies, including Volkswagen Group, Renault-Nissan and Ford Motor, were some of the hardest hit by Russia’s economic downturn, in which annual car sales more than halved from a 2012 peak of almost 3 million vehicles, and a sharp devaluation of the ruble raised prices for imported parts and sapped profits.
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