Hyundai Motor's auto sales in Russia hit brakes in Feb.

SEOUL, March 19 (Yonhap) -- Hyundai Motor Co.'s vehicle sales in Russia plunged
54 percent in February amid slumping demand, industry data showed Thursday.

Hyundai, South Korea's top carmaker, sold 7,669 vehicles last month in Russia,
compared with 16,743 units sold for the same period last year, according to the
data collected by the Association of European Businesses, a Moscow-based industry
group.
The Russian government expects its resource-dependent economy to shrink 2.2
percent this year as prices for oil, gas and other commodities are likely to
remain weaker due to the global economic crisis.
In January, Hyundai's chief financial officer, Chung Tae-hwan, said the company
would delay starting production at its Russian plant, which is now under
construction, citing market uncertainty.
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