The Ukrainian automobile industry has shrunk by 90% – this is an absolute world record in recent decades.
The decline in the Ukrainian automobile industry was 90% - an absolute record in recent decades.
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This was stated Oleg Boyarin, owner of the automaker Eurocar, in an interview with the Kyiv weekly “Novoye Vremya”.
According to him, the Ukrainian car market collapsed by 2015% in the first half of 70—only 17,2 thousand new cars were sold in the country during this period.
Things are even worse for those who produce cars. According to the World Organization of Automobile Manufacturers (OICA), in the first half of the year Ukraine was in last place in the ranking of countries producing cars. The drop was 90% - an absolute record in recent decades.
At the same time, the state continues to maintain high duties on car imports, import VAT and other taxes. In addition, according to the Association Agreement with the European Union, starting from 2016, Ukraine will ban the import of cars older than five years.
“Having become a victim of the crisis, Boyarin curses the government for incompetence and calls industrial production the only chance for Ukraine not to become poor. His call is that automakers, even though they are private businesses, need government support. Always and in everything,” writes “New Time”.
Oleg Boyarin paints the economic situation in Ukraine in the darkest terms. According to him, the current government is leading Ukraine to deindustrialization, poverty and extinction
“The car market is very sensitive to the economic situation and income level. Now this is taking some catastrophic forms. Devaluation of the national currency three times over a period of just over a year. The population's income has more than halved. Huge increase in unemployment. In fact, the complete destruction of the middle class as such. In fact, since 2008 the market has shrunk 15 times.
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