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General Motors (NYSE:GM): Closing price $28.53
The Association of European Businesses said Friday that car sales in Russia jumped 5 percent year-on-year in January, mostly due to shorter delivery times and better price offers. However, the Association forecasts that 2.95 million cars will be sold there this year, a figure which would duplicate the previous year’s 2.94 million, while driver stem spending due to economic troubles in Europe. GM, Ford, and other Western automakers have invested heavily in Russia to exploit a market that might overtake Germany as Europe’s largest sometime in this decade.
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