The cost of traffic congestion increased in 2016 to an average of $1,400 for U.S. drivers, as congestion worsened in Los Angeles, which has become the most congested city in the world, according to the Inrix Traffic Scorecard.
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.
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