Russia’s gross domestic product slipped 7.9% in 2009, according to government data. Although the dropoff marked the worst decline in 15 years, it still beat earlier government forecasts of an 8.5% slide, BBC News points out.
The auto industry was hit especially hard, with new car sales in Russia plummeting 49% to a four-year low of 1.5 million vehicles last year from a record high 2.9 million in 2008.
Domestic auto production fell to 597,000 units in 2009 from 1.45 million in 2008, according to the country’s Industry and Trade Ministry. Output of domestic and foreign brand models was down 64% to 316,900 and 53% to 281,100, respectively.