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Ukraine's auto production drops again in January after 2 months of growth

Xinhua, February 9, 2016 Adjust font size:

Ukraine's vehicle production plunged 17 percent year-on-year in January, marking the first month of decline since October 2015, official data showed Monday.

Last month, Ukrainian carmakers produced only 293 vehicles compared with 1,852 units in the month before and 1,167 vehicles in November 2015, according to a report, published by the Ukravtoprom Analysis Group.

Only one-third of automotive plants functioning in Ukraine have manufactured vehicles in January, the report said.

According to it, the country's commercial vehicle production fell by 41.3 percent in January from the same month a year before to 64 units and that of buses dropped by 73.7 percent to 5 units. In the same time, the passenger car output remained unchanged at 224 units.

Ukraine's vehicles production has been declining since 2012 as a result of economic slowdown, poor consumer purchasing power and curtailing loan programs for car purchases.

In December 2015, the auto production had increased three-fold from the same month a year earlier after surging 95.5 percent in November, raising the hopes that the industry started recovering from the crisis.

Last year, Ukraine's automotive industry dropped 71.3 percent year-on-year to 8,244 vehicles. Endit