Russian car producers to increase prices following metal factories

A rise in prices on metal-roll announced by the largest Russian metal companies - Magnitogorsk Metal Works, Severstal and Novolipetsk Metal Works - will result in a 10-12-percent rise in prices on domestic cars. This announcement was made by the economic council of general directors of Volga regional car producers. Among participants of this meeting were heads of such Russian car giants as AvtoVAZ, KamAZ, GAZ and others. The press service of AvtoVAZ reported, referring to the company's leadership, that this rise in prices would be harmful for the Russian car industry. The upsurge in prices on metal-roll will also lead to a fall in sales and, correspondingly, negative social consequences. In the long run, this rise will result in budget losses.

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