The new company will be known as NewALD and will give the business extensive global reach with a total of 3.5 million vehicles under fleet management.
Collapse of Oil Prices and Ruble Devaluation Negatively Impacting Russian Fleet Market
The Russian economy is in a recession, with the gross domestic product (GDP) shrinking 3% in 2015. This economic downturn is widespread, with output falling in key sectors of the economy. The overall fleet demand in the Russian market is down, primarily due to the volatility in the exchange rates for the ruble and its impact on new-vehicle pricing.