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Expert: auto industry in Russia will suffer from a new wave of coronavirus

Expert: auto industry in Russia will suffer from a new wave of coronavirus
Photo: primorsky.ru

Another wave of the impact of coronavirus on the economy will affect automobile manufacturing, which use Chinese components. Kamaz has already switched to a reduced operating mode; this also threatens other car assembly joint ventures in Russia.

As told in an interview RIA News Professor Alexander Latkin, Head of the Higher Qualification Training Institute of the Vladivostok State University of Economics and Service (VSUES), the first wave of the negative impact of coronavirus on the economy passed and hit the Far East more - due to the closure of the borders, the regions experienced a sharp decrease in the number of vegetables in stores and an increase prices for them.

Export also suffered - in China, demand for timber processing decreased, trade, restaurant and hotel business suffered. This wave affected Primorye, Khabarovsk Territory, Sakhalin Oblast and Kamchatka. Now the second wave has begun, which affects production, including the auto industry. According to Latkin, all of this in Russia as a whole will manifest itself in the level of inflation, a decrease in the average wage.

September 25: current information on coronavirus in the Far East
Digest of regional events and latest statistics