Seat to pull out of Russia by year end

Seat, the Spanish carmaker and Volkswagen Group subsidiary,  is to pull out of Russia by the end of 2014 due to declining demand. While the company increased its Russian sales by 35% year on year in 2013, a combination of a weak rouble and Russia’s overall economic problems have resulted in poor sales, and it becomes the first car manufacturer to pull out of the country since the crisis in Ukraine. Seat’s market share had been relatively constant at 0.1% Interfax