The auto market in Russia in April contracted 78,5%: those who still had some doubts about the impact of sanctions on the Russian economy will now have to change their mind since we have evidence that the consumers' market appears devastated just two months after the introduction of the measures.
For the uninitiated, the auto market is usually the first to react to economic conditions. And whatever the Kremlin says, this figure testifies to a disaster: consumer confidence is at its lowest and means that families abstain from spending, having no certainty for the future. Thus, unemployment and dissatisfaction will soon rise.
Could it be true that Putin's popularity is at its peak? Perhaps only among those who live in the countryside, living on garden products and with minimal expenses. It is doubtful that this is the case in cities, thinking that this new car market figure will inevitably be followed by the collapse of sales of hundreds of other consumer goods and services.
Bad tempora currunt in Russia, even if the propagandists say otherwise.