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?а?????? ?? ??????? 2015 ???? ???????? 200а???.
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19
2011
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22
2013
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22
2014
4834
18
2015
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23
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12,2% ???????? ???????? ??
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2016-? ?а???????? ??????
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??? ??????? ?а?????? ?а??????
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??????? ?? ?????? ????????????
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?????
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????? ????? ??????? ????????????????. ?? ??????????, ??????? ??????
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??????? ?? ?????.
???????? ???????????, ??????????? ???????? ?????????????? ITinvest: ? ?а?? ????, ???? ??
??? ??????? ??? ????????, ?? ?????? ????????? ??? ????????. ??????????? ??????
????????? ?????????. ?а?? ???? ??????, ???
??? ?????????????? ?а??? ????????, ?а??????? ?? ?????????, ?а???????? ???????. ???
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??????????? ??????
?12 [1020] 30.03?05.04.2015
10
??????? ????? ?????? л?????? ????╗
???????????, ??? ?а??????-???????, ????????? ??????? ???????, ???????
????? ?????? ?? ????. ??? ???????, ??? ??????????????? ?????, ????????? ?а?????????? ?????????? ??????? ?? ????????? ?а?????, ?????? ??????????? ???????????, ????????? ???? ?? ?? ?????? ?а?????? ?????????
???. ??? ????? ??????, ?а?? ????.
????? ????????, ?????????? ?????????: ? ??????? ???. ????????? ??н??н??? ?????? ?????????. ????????, ?????? ??? ????????? ?а???????? ??????????? ?а???а? ?? 100а???. ???????????, ??????????? ?а??????
?? ????? ??????????? ??????. ??? ??????, ??? ?? ?????? ?????? ??????.
?а??????? ???????? ?? ?????? ????????. ??????????????? ???????????а? ?а??? ????? ?????????? ???????????а? ????????? ?????????????.
?а??? ?? ???????? ?а???, ??? ?а?????? ??? ????????? ?а????????????
?а??????????? ??????? ?? ?????? ????? ?????. ?????? ?а?????? (???
????????? ????????? ??????????) ????? ?а??????? ?? ?????? ?? 10%,
?а?а??????а? ??? ??????. ????????, ??????????, ???????????? ?а??? ??
????, ?????????????, ???????????????? ??? ????????. ??? ????????
???? ??????????? ?????? ?????? ?????а? ???????? ?????? ??????????
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?? ????????, ????? ??? ???? ????????, ?? ????? ?????? ???????????? ?????? ?? ???? ?????? ???? ?? ??????. ??? ????????? ?а????????? ?????????,
???? ????????? ?? ??????, ?? ?????????? ?а???????. ?? ????? ?????? ?????? ???? ??????, ???????? ??? ??? ??? ???, ????? ??????????????? ?? ????????????? ???????????. ????? ???????? ?? ????, ??? ??????? ????????
??? ????? ??????? ????????, ?а????????? ?????? ???, ??? ???????? ?а???
??????? ???????, ?а??????? ?????? ??? ???????? ?????.
?1 2 [10 2 0] 3 0 .0 3 ? 0 5 .0 4 . 2 01 5
?????
???? ??????? ??????????? ?????????? ??????
??????????? ?????????? ?????????? ?????? ??????????. ????????? ?????? ??? ??????????, ???, ???????, ??????????? ??????????? ???????????? ?????????? ?а???????? ??????????? ????????????? ?а???????? ???????.
????????? ???????? / ????
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??????? ?????? ?а?????? ?? ????.
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??????? ?????????? ???????????
??????╗,? ??????????? ???????. л???
???????????, ??? ???? ????????????
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??????? ??????. ?????? ???????????
?????????? ???????? л????????╗
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????? ?????????? ?????????? ???-????
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?????? ?? ??????????. ??? ?? ?????
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л???????╗, ??? ?а??????? ??????????
?????? ?????????? ?а????? ?????????
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????????? ?????? ?????????? ?? ???-
???? ??????????????? ??????. л?? ???
???? ??????,? ???????????? ??????
???? ?? ??????.? ?? ???? ?????? ????
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??? ?? ??????????? ??????? ?????????
?? ?? ????, ?а?а??????? ?? 10?15а?????,
????? ????? ?? ?а????????, ?а?а???????????, ??????????? ????? ???????
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?????????. ?? ???? ???????? ?а??????,
?а??????? ????????? ???? ??????? ??????? ????? ?????? ?? ???? ??????.
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????????? ???????????, ????????, ???
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?? ?????????. ????????? ??? ??????
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???????? ???????? ???? ?а????????.
?а??????? ?????????? ??????? ?????-
???? ????? 11 ??????, ?? ????? ?????
????????? ?????????? ?? ??????? ??
????????? ??????? ?????????????
???? ?????????? 1,5а???? ??????,
?а?а????? ???? ???????? ??????????
?????? ??????? ?? 10?15%.
?????? ???????????? ?? ??????????
???????? ?а?????? ??????. ????????
????? ?????? ?????а? ??????? ?а??????????? ?????????? ????? ?а????????
????????? ???????????, ????????????
???????????. ??? ??? ?а????????????
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?????????? ?? ?????????? ?????? ????
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???????? ?а??????????? ???????????
????????? ??????. ?а??? ?????? ?а??????
???????????? ?а????????????? ????????. ???? ????????? ?? ???????????
?????? ?? ???????????????, ?????????? ???????????? ???? ???????? ???????????? ??? ?а2013 ????,? ???????
???, ????? 70% ???? ??????? ??????????? ?? ??????????? ?а?????? 30% ??
????????.
? ?????????? ???????? ????????
??????: ???????? ??????? ?????????
?а?????????? ????????? ???????
?а?????-???? ??? ??????, ??? ????
????? ?а???????????. ??????? ??????
?а???????: ?а2013 ???? ??????????
????????? ?а??????????????, ???????????? ??????? ?????????????
????????? ?????, ???????? ?а???????
?а?????????? ??????? ??????? ?????
???????? ????????? ??????? (28 ??
65). ?????? ?а??????? ???? ?а?????????? ???????? ?????? ?? ??? ???????
???? ???????? ?????? 9а???. ??????
?а?????????????. ??????????????,
??? ??? ??? ??????????????????? ??
?????? ????? ???????? (?????????
?????? ???? ??????? 1,5а???? ??????
?? ????????????), ?????? ????????
????? ?? ????. ?? ?а?????????? ??????????? ???? ?? ?????????а? ?? ??
???. ????? ??????? ?????? ??????? ??
??????????? ??????????, ??????? ????????? ??????? л??????????╗ ?ал??????????????╗.
????? ????????, ??? ???????????
?????????????? ????????????. ?? ???
(??????? ??????????? ?????????????,
?? ??? ???? ?????? ???????? ?????)
???? ????????? 105а???? ??????. ??
????, ??? ????? ????? ???? ????????
????? ???????? ?????. ?? ?????? ?????
?? ????????. ?????, ??????? ???????
?? ??????? ?????? ??????????? ??????????, ????????? ????? ??????????
??????????а? ?а???? ??? ?????????
??????????, ??? ?а????????? ???
???? ?????????? ??????? ??? 14а???.
??????. ?а????????? ??? ???????????. ???????????? ?а????????????
?? ?????, ???? ??, ??? ??? ?????????
??????????? ??????????, ?а?????????
???? ???????????а? ?а??? ?????????.
л??? ???? ?????? ??????,? ??????????
???????? ??????????.? ??????? ??
????????? ??? ?а??? ??????, ??? ?? ????????? ?? ????? ???????, ?? ???????
?? ?????? ????????. ??????? ???????
?а?????? ????????╗.
???? ?????????
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11
??????
??????
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AFP
??????
???????, ?? ??????
12
??????
???????? ?а?????
16
??????-????
???????? ?? ??????
18
???????, ?? ??????
TEKCT ??????? ???????
???? AFP, ????????? ????????
???????? ?а???????? ?а??????? 2015-?? ???????? ?? ?????
?а??????? ?? 9,9% ??????, ??? ??? ?????. ?? ??????? ????, ?????????? ????????, ??????? ?? ???? ????????. ?а????????
????????? ?? ?????, ?? ?????? ????????, ?????????? ????-??
?а???? 2011 ????, ?а????????, ?а????? ??? ?????????, ??????????
????????? ??????????? ??????: ???????? ???????? ???????? ??????? ?? ??????????? ?а????? 1999-??. ?????? ?а?? ????
??????? ????????????. ?а??? ??? ????а? ?? ?????? ???????,
????? ??? ??? ??????????.
??????, ?????? ?????????? ???????? ??????? ???????????? ??????. ??-??????, ???????????????????? ?????????а?
???????????: ??? ?а????????? 12а??????? ???-???? ????????????? ????????, ?а??????? ???? ?а???????? ???????? 5,2% ?а??????? ?????????. ?а??-??????, ????????, ????????? 16,7% ?а??????? ?????????, ?????? ??????????????: ????????? ????
??? ?????? ?? ????????? 0,2% ?????? 0,6?0,7% ?а??????-???????. ???????????? ???????? ???????? ????? ??????????:
???? ?? ?????? ?????????, ?????????? ????? ?????? ???? ???
?а???? ????? ?????????????? ????????. ?а??? ??? ?????? ????
????, ??? ???????? ???????? ?????????? ???????????. ?? ??
?? ????, ???????, ?? ????? ????????????. л???? ??????? ?????
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??????? ????? ???????, ?? ??
???????: ?????? ?а????????, ?????????????? ?? ???????????, ??
??????? ????????? ?? ???????????? ???????? ??? ??? ??????? ???? ?????? ???????????.
???? ?? ??????????? ?а?а?????
???? ?????? ??????? ??????, ??????????? ???????? ??????? ??
7,7% ???? ?? ???????????.
?а???? ????, ?? ????? ???????, ?????? ??????? ???????? ??????? ?а??????? ?? 9%╗,? ????????? ?а?????? ?????????? ???????? ??????????????? ????? ????????????.
???????, ?а????????? ????????????? ????????? ?а???????
???? ?а??? ???? ?????????? ????????? ????? ?? ???? 20%
(???, ???? 2015 ????). ???? ??? ????????? ?а????????? ?????? ?????? ??????? ?????? ??????. ????????, ???????, ??????????? ???? ?? ??????: ????????? ???? ?а???????? ?????????
???????? ?а????? ????????? ??????? ?????, ??? ?а???? ??? ???
?а?????, ?а??????? ???? ???????????? ????????? л???????╗
(????? ??????????? ???? ?а?????? ?а???????? ?????? 8а???.
???.). ?? ?????? ?? ???? ????????????????? ???????? ?????
????????????????????а? ?а??????? ?? ??????? ?? ???????
(????? 7,7% ??? ?а????).
???????? ??? ?? ???. ???????????????а? ?? ???: ?? ???????
???? ?а????? ??? ?????? 2014-?? ?,а?? ?????? ????????, ?а??????? 2015-?? ??????????? ?? 7,9% ?а??????? ?????????, ????
?а????????????????? ???????? ?? ????????? ?а1999 ????. л?????? ??????????? ?????????. ???-?? ????????????? ?а????????
?? ???????. ???-?? ???????? ????? ??????????? ????????
?????? ?????????: ?????? ???????? ???? ???????? ???????????? ?????. ???-?? ?????? ???????? ?а???? ???? ?а ?????.
?
?12 [1020] 30.03?05.04.2015
??????
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?????????
13
?12 [1020] 30.03?05.04.2015
?????????
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????? ???????? ???????? ?? ??? ?????????????
???????????: ???? ?а???????? ??????? ?а???????
2014-?? ????????? 1,5%. ??? ????????????????? ???????? 23,3% ??? ????????? ???????? ??????????
?????????? ???????. ?? ??????????? ??????? ??
??????????????????? ?????? ?????????????
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???╗,? ??????? ?ал??????╗.
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I
II III IV V VI VII VIII IX X XI XII I
2013
II III IV V VI VII VIII IX X XI XII I II
2014
2015
??? ????? ??? ????????
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4
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II III IV V VI VII VIII IX X XI XII I
2013
????????: ???????.
II III IV V VI VII VIII IX X XI XII I II
2014
2015
: ????? ???????????
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?? ????, ?? Opel
??????? ?????, ????? ?а???????, ?? ????????? ???????? ???????? ?????? ??????????????????? ??????? ?а?????????????? ??????????????? (?????)
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???? ?????? ?? 25% ?а34% ?????????????? (???,
??????? 2015 ????). л?? ?????, ??? ???? ??? ???????? ???????????? ?? ??????? ???????. ?? ??? ???????? ?????? ???????, ??????? ?????????????
??????, ?????????? ???? ????????? ?а????????????? ???????, ?а??????? ???????? ?????? ???? ??
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???????? BCG ???? ?????.
????? ?? ????????????? ??????? ??? ?????а?
?????? ????? ?????????? ?а??????? ?????? ?????????? (??. ???????). ?? ?? ???? ??? ?????? ?? ???
?????????????? ??? ????? ???????????????? ????????а? ?а???????-?????? ?а??????-??????? 2014
???? ?а??????? ?а?????? 2015-??. л??????????
????? ?? ????????? ??????, ??????? ??? ??
?????? ????????? ?а????,? ???????????? ????????? ??? ???????? ??????, ??????? ????????? ???????? ????????? ?????? ?а???????╗,? ?????????
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????╗, ???????? ????????????. ?????? ????????
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????? ?? ????????????? ?????. ?? ??????? ????????, ?? ??????? ??????? ??????????? ??????????
6,1% ?????????? ?????????????, ?а?а??????? 2015-??,
???????? ?????? ?????????? ???????????? ???????, ??????? ?? 37,9% ?а??????? ?????????.
?12 [1020] 30.03?05.04.2015
????????? ????????
л?а??????? ????? ??????: ??????????? ????? ?????????, ?????? ??? ??????? ??????? ??? ??? ????
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?? ??? ????? ???????????? ?? ???????? ?а???????? ???????? ?а??????? ????????????????? ??????? ??????, ??????, ?? ??????? ?а????????? ??????? ???????, ??????? ?а????????????? ???????????? ???????а? л?????????????????╗ ????????? ?????????????? ??? ?????????? ?? ???????.
?? ?????? ?????? GFK, ??? ???????????? ??????,
л????? ????? Viola ???????? ?????? ????????? ???????? ????????? ????. ?? ?????? ???????? ??????? ???????? ????? ??????????? ??????????
?
????? ??????? ????????? ???????? ?????? ??????????????? ???????? ?????. ?а????? ?? ????? ??
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????? ????????? ???????? ??????????? ????????
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???????????, ??????? ?? ????????????? ?а?????
??????? ?????????╗: л???? ???????? ????????
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(?? ????????? ????????? ?????? ????????, ?а2013
???? ??????? ????????? ?? ??????? 19,1а???. ???.).
??? ???? ???????? ??????? ???????? л???????╗
30%, ?а?а???? ?????? ????????? ???????а? ??????
??? ?а????????. ?а????????? ????????? ??????, л??????? ????????? ????????? ?а????? ?????? ????╗,
л????? ?а?а?????????????, ?а?а????????? ???????????а? ???? ??? ?????? ?? ?а??????╗, ??????????? ??????: л??? ???????????? ?? ??????? ???
???????? ??????╗.
??????? ?а????????
??? ??????? ??????????? ??????? ????? ????????,
??? ??? ?????? ????? ?????????? ??? ??? ??????.
??? ????????? ??????????? ?а?????? 2008 ????
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?? ??????? ????? ??????????
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72
81
57
48
63
82
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71
74
82
65
53
75
75
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31
80
75
67
48
82
65
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71
71
61
51
69
68
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36
59
70
49
43
65
66
????????: BCG CONSUMER SENTIMENT SURVEY, 2008?2009.
???????? ?????????? ???????????)╗. ?? ?????????????, ??????? BCG ????????? ????????? ?а?????????, ????????? ???????? ????????????? ????.
л???? ?????????? ?????????? ?????? ?? ????????,
?? ?? ?????, ??? ??? ?????, ?? ?????? ???????
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?, ??????????, ?а???????? ??????? ??????????
??????????, ????? ???????????? ?а?????. л?? ????????? ??????? ?????????? ??????????? ??????
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?????? ?а?????????? ?? ??? ??? ???? ??????? ??????????????????? ???????. л???????? ???????
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????? ??????????????? ???????? ????????? ???????? ?а??????????? ?????????? ???????? ????????????... ?? ?????? ?????????, ??? ?? ??????
????? ???? ??? ???????? ?????????????? ???? ???????? ????? 8,5%╗,? ???????????? ?????????
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??????????? ??????
15
??????????? ??????
?12 [1020] 30.03?05.04.2015
16
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?????? ?? ?? ???????, ?? ?????
?а??? ????? ?????. ?????? ?????????? ??????-??????? 2015
???? ????????, ??? ?????????,
?а????????? ?????????, ???
????? ?? ????? ?????, ????
?а??????? ?????????.
???????? ????????? ????????? ?????????? ????,
???, ????????? ?? ?????????? ?а???????????? ???????,
?а?????? ???? ?а???????????
?????? ?? 1,2%, ?а??? ?а??????? ????? ???????? ????????? ??????????? ?????, ?? 0,6%.
?? ?????? ???????? ????????? ??????? ????????, ?а??????-??????? ??? ????????
?? 1,5%. ??????? ?????????
???? ?????? ?????? ????????, ??? ?? ?????? 2015 ???? ??????? ????????? ????? ????????? 4%. ?????? ????а?
3%, ?????? ????????а? 4%,
?????а? 5%. ?????? ?а????????? л???????╗ ??????????, ??? ????????? ??????????????? ???? ???????????? ??
10 ??????.
??????? ?????? ???????
??? ?? ?????? 2015 ???? ???????? ??????? ??????????.
л?????? ??????? ???? ????
???? ???????? ??? ?? ??????? ????????, ??? ?а?? ???????? ?а?????????????,? ??????? ???????????? ??????????? ??????? ?а??????????????? ??????????????????
????????? ????? ???????
????????.? ???? ??????? ????????? ???? ?????????? ??????, ?? ????? ????? ???? ?????
???? ?????????╗. ?а?????????? ???? ?????????? ???????? ??????? ??????? ??? ??
2?3% ?? ?????? ???? (??????? ??????, ??? ?а?а?????,
5%), ???????? л???????╗
?????? ???? ? ????????? ???????? ??????: ??????? ????????????????, ??????????,
???????? ??????? ? ???????? ??? 17%. ?? ????? ???? ? ????. ?????????? ???????,
??? ???? ?????????? ????? ????????, ? ?????????? ????? ?? ??? ?????, ??? ? 2009 ????.
??????? ????????? ????? ??????? ??????: л??????-??????? ???? ???? ????? ????????. ?? ??????, ??? ?????
??????? ??????? ??? ?? ?????? ???? ????? ??????? ?а???????????????? ???????? ???????. ?????? ?????, ??? ????? ????? ?????????а? ?????
5%╗. ?а?? ??? ???? ????????
???? ??????? ??? ?????????
(4%), ??? ?а?а?????????? ????????????? ING (3,9%).
???? ?????
? ? ? ? ? ? ? ? ? ???? ?? ???????
??? ?????????а? ??????????
????????. ???? ?а??????? ??????? ???????? ?????????
16,7% ?? ????????? ?а15%
?а??????, ??????? ????????
?????? ?????????. ?а??????
??? ??????? ?? 3,9% ?а??????????? ??????, ?а?а???????а? ??? ?? 2,2%. ?? ?????? ????????, ?? ?????? ???
?????? ????? ???????? ????????? ????? ?? 0,7%, ??? ???
??????????? ??????? ?????????? ????? ?а????? ?????????
????????, ??????? ?а??????
????????. ?????? ?????????? л????????╗ ?????????
???????, ??? ?? ?????? ????
???????? ???-???? ?????????
??????????а? ????? 12%. ?????? ??????а? ??? ???????
???? ???? ????? ???????????????? ????.
?????????? ?????, ????????? ?????????? ????????, ?????????? ???????? ???????
(?а??????-???????а? ?? 9,1%),
??? ??????? ???????? ???
?? ????? ?а?????????? ??????????????? ???????? (?а???????а? ?? 7,7%)а? ??? ??? ????? ?????? ?? ???? ?а???????
????????. ?? ?????? ??????? ???????, ??????? ???????
??????? ?а???, ????? ?? ??????? ???????? ?а???????-???????? ??????? ??? ?? ?????????????. л?а????? ???????? ???? ?? ??????????????
??????? ???????? ??????? ??
10% ?а?????? 2015-??,? ??????? ???????? ?? ??????? ?????????? ?????? ?а?????????????? ?? ?????-?????
???? ???????? ??????.? ???
????????? ?? 9,1%, ??? ??? ???
?????? ????????. ?????? ??
?????????? ???????? ????? ?????? ????????? ??????
?а?????????? ?????. ?а????? ???? ?? ????? ??????? ???????? ?????? ???????? ????????. ???? ?????????????
??????????? ???????? ??????? ??????, ??????? ?а???????? ??????? ?????? ?? ?????
????????? ????????. ?????
??????????? ????, ???? ??????? ?а??? ???? ?????╗.
????? ????? ???????? ???
???????? ???????, ???????
??????? ????????? ?? ???
???????? ?????????: л????????, ?а????? ?? ??? ?????????? ????? ??????? ??????????? ?????????? ??????????????. ??????? ??? ?а???,
??? ??????????? ?????? ??????? ?????? ?а??????????
?????? ?????????????. ?????????? ?а?????? ???????????
???? ????? ??????? ?????????
????????? ?а????????? ??????????? ????? ?????. ??? ?????
?????? ?? ???? ?а??????? ?????????. ??-??????, ???? ???? ????? ?????????? ?а??????
???????, ?? ?????? ?????????? ???????? ?? ?? ??????╗.
??????, ?????? ????? ?????????? ???? ??? ????????
??????. л?а???? ???? ??????????????? ??????? ????????
??-?? ??????????? ?а????? ??????,? ??????? ???????????
???????? ??????????? ?????
???? ????????? ?????? ???????.? ???? ?? ???????? ?????? ???????? ??????? ??
40%, ?? ??????а? ?? 50%, ??
????????а? ?? 40?80%. ????????? ?????????? ????????
??????????? ?? ??????? ??????????? ?????. ?????? ????????? ?? ?????? ????????
?????????, ?а??????, ??????
?????? ??????? ?????. ?а?????, ??? ??????? ???? ??????? ????? ?а2015 ???? ????? ????????? 28?30а??? ???? ?????? 48а??? ???? ?а2014-?╗.
?????????? ?????????
????? ???????? ?а????????????? ???????? ??? ?а2016 ????. ?? ?????? ??????? ????????, ???????? ?????????? ??
?????? ?а??? ING, ??? ?а?????? ???????? 2016-?? ???????
???????? ????? ??????????
?? 5?5,5%. ?а??? ???????????
?а????????, ???? ??? ?? ?????
?а???????????? ????????,
????????????? ???????????
Bank of America Merrill Lynch
?? 2016?2017 ????. ?а??????
???????? ???? ???????? ?а???????? ?????? ?? ?а2015 ???? ?? 9%, ?а?а2016-?а? ?? 7%
??? ??? ????. л???? ??????????? ?а???, ??? ???? ?а??? ????? ??????, ??? ?????? ?????????? ???????╗,? ???????? ????????.
?????? ???????????а?
???? ??????? ????????????
????????? ?а????? ??????????????? ?????????. л???????? ???????? ?а???????????
?????????,? ??????? ??????? ??????.? ?а??? ?? ??????? ???? ???????? ????????: ???????? ?? ??????? ???????? ???? ?????????????
?а?????? ????????? ????????????? ???????? ?? ???????? ????????????╗.
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?а????н
??-??????? ?????????? ?а???????? ??????? ??-????????
????????? (?? 5%), ???????? ????? ?????????? ???????? 2014-?? (16%). ?а?????? ???????? ???????, ??? ???
???? ?? ???????????? ????????? ??????????? ?????????? ????????. ???????,
?????????? л????????╗ ???????? ???????? ?? ??????,
??? ???????? ????????????
?а?????? ??????????. ???, ??
????? ??????????? ???????
?12 [1020] 30.03?05.04.2015
??????
л???? ?????????????
??????????? ???????? ????-
???????? ?????????? ????
????: ?а??????-??????? 2009
???? ?????? ???????? 18%,
?а?а???а? ????? 25%.
???????????? ???????????? ???? ?а?????????????, ??
???? ????????? ?а??????? (??
1,6%), ????? ??? ??? ?а??????
??? ???? ?? 0,9%, ?а?а???????а?
?? 3,9%. ??? ???? ?????? ????????????? ?????????, ?????????????? ?????????? ????????????? ???????? ?????
???????, ????? ?? 1,7 ??????
?? ????????? ?? ?????? ?а???????. л??????????????, ????? ???????, ???????? ?????????? ?????? ?????????,
????? ?????????? ????????
?а???????????. ?????? ????????? ???? ??????? ?????????? ???????? ??????????
???????, ???????????????
?? ?????? ??? ???????? ????????????? ???????? ???????,
?а???????? ?а???????? ?????? ????? ?????????????? ???????? ???????╗,? ?????????
?а?????? ???.
???????? ?????? ?а???????????????? ???????? ??
??? ??????, ??????? ? ????????
??????? ?????? ?? ????? ????????? ????????. ????? ???????????
????, ???? ??????? ? ??? ???? ?????╗
?????????????? ???????
(-2,8%). ??? ???? ?????????? ????????? ?а?????????
?а????? (+4% ?? ??????-???????), ??????? ??????????
?? ???????????, ???????????????? ?а?????????, ????????
??????????? ???? ?а????????,
?????????? ?? ??????????
??????????? ?????? ?а?????????? (?????????????? ??
??? ?? ?????? ??????????? ??
11,1%, ?а???????????? ???????????? ???????а? ?? 22,4%).
??????? ???????????????? ????? ???? ???????, ???? ?? ?? ???????????? ??????. ???? ????? ????? ?а??????-??????? ?????????? ??
40,6%, ?? 12,3а??? ??.а?,а???????? ????????? 2014-??,
????? ?? ?????? ?????????
81а??? ??.а?. л????????????
??????? ?а??????? ????????? ????????????? ?????? ??????? ?а??????? ??????? ?а???-
% ? ??????????????? ???????? 2012 ?.
?????? 1. ???????? ?????????? ? ???????? ???????*
?? ?????? ??????
180
? ???????????
?????????
???????
140
100
?????
60
*?????????? ?????????.
????????: ???????.
20
I
II
III
IV
V
VI VII VIII IX
2013
X
XI XII
I
II
III
IV
V
VI VII VIII IX
2014
X
XI XII
I
2015
% ? ???????????? ??????? ???????? ????
?????? 2. ?????? ??????????????? ???
116
114
112
110
108
????????: ???????.
106
II
III
IV
V
VI
2014
VII
VIII
IX
X
XI
XII
I
2015
II
???? ?а??????? ??????? ??
??????? ?а????? ????????
?а?????? ???????????,? ??????? ?????????.? ?а???? ??
???????? ???????? ???????
??????????. ?? ??? ??????, ??
?????????? ?????????? ??????? ???????? ????????????? ????? ?????????? ???????? ????????, ?? ?????
?????????? ???????? ??????
????. ?? ?????? ?? ??? ?????? ??????, ??? ?????? ?????
?? ???????╗.
???????? ??????????
?а??????-??????? ???? ???????????? ???????? ???????????? ???????, ???????? ?????? ??????: л?? ???????,
??? ?? ???? ???????? ?а????????? ??????, ????????
?? ???????? ??????????????? ?????? ?? ????? ??????,
??????? ??????? ???????????????? ?а??? ???????? ??
??????? ??????╗. ?а?а?????? ??????? ??? ???????? ???????? ????????. ????? ????????? cash flow, ??? ????????? ?????????? ??????,
????????? ??? ????? ????
?? ?????, ??? ??? ????? ?????????? ?? ??????. ?????
?????? ???????????? ?а????????? ???????????.
?? ????, ?????? ?? ??????????? ???????????????
?????, ????? ???????? ?а??????????, ??????? ????????.
л???? ?? ??? ????? ?????,?
??????? ??.? ?а??? ????? ?????, ??? ??? ?????? ??? ??????
????????????????. ??? ??????? ????????????, ????? ??????????, ???????????? ????????????????? ????????, ???????? ????????? ?а??? ?????.
?????? ?? 1998 ???. ??????,
?а???? ???? ?? ??????? ????
?? ???????????. ?а????????? ???? ???????? ???????? ?????? ?? ?? ?????. ?????, ??? ??????????? ?????
??????????? ???? ?????????? ???? ?а??????????. ????-
??????? ?????????? ????????, ??? ????? ????????? ????
1999 ????, ?? ???? ???????????
?????????? ??? ???????????
???????╗.
? ????? ???????? ????????????? ?????????? ????????? ?а????????? ???????????? ?а??????? ????????,
??????? ????????? ??????
????????: ???????? ????????а? ?а?????? ????? 2011 ????, ?????? ?а????????????
???????а? ??????? 2012-??,
?????????? ?а???????? ???????а? ??????? 2011-?? ?а??????? 2008-??, ????? ?????????????а? ??????? 2011-??
?а2009-??.
??????? ???????????, ???????? ???????, ????? ????
????? ?а??????? (?а????????
?????????) ?а???????? ?а????????? ????? 2013 ????. ???
?????????????? ?а??????
?????????? ?????????????????? ???????????, ??????? ???? ??????? ?? ??????
??????? 2013-?? (?а????????
?????????) ????? ????????
?????? ??????????? ???????? 2014-?? (?? ???? ?? ???????). ?????? ?а????? ??????????? ???? ????????? ?? ?????? ??????, ???????? ???
??????? ???????. л???????
?????????? ?а????????????????а? ??? ?????????? ????? ?? ??, ??? ????????? ???????? ???????????????,? ??????? ???????? ??????.? ??
?????? ??????????? ?????????????. ?????? ???????? ??
????????? ????????? ?????,
??? ????????????? ????????????????? ???????? ?а?????
??????????? ??????? ?????????╗. ?? ?????? ???????
???????, ?????? ??????????? ??????? ????? ?а?????????
???????? ????????, ??? ?????? ?а??????? ???????????????? ?????????? ????? ?????????????? ??????? ??????
?? ???????? l
17
??????????? ??????
?????????
??????-????
?????????
18
???????? ?? ??????
????????????? ?????? ?????????? ?? ??????? ??????????? ??????? ?? 1,4а??? ??????. ???????????
??? ????????. ??????: ??? ??? ??????????? ?????????? ?????? ????? ??????????? ?????????? ??
100%, ??? ??????, ?а90% ????? ?????? ?а??????????? ?????????. ??? ???? ?????????? ?????????
??????? ?????. ??????а? ????????? ?????? ?????
???????? ??? ?????????. ???? ?????? ???????
??????? ?? ??????????? ??????, ?? ???????????
???????????????.
?????????? ??? ???????? ???????? ?а?????? ???.
???????? ????? ??????? ?????? ???????????????
???????, ?а??? ??????? ???????? ??????? ??????? ??????? ?? ????????? ?????????????, ????
?? ?????. ??????? ???????? ?? ????? ???????
?????????? ??????, ?? ?а?? ??????а? ????????????????? ?????????? ??? ????? ???????? ?????
??????????? ?? (?а2014 ???? ?? ???? ?? 63а???.).
???????, ?а????????? ?а??????? ?????????? ??
?????? ???????????. ?а????????????? ?? ???????
?а??????? ????? л?????╗ ???? ?а???????? ????????? 67,8а???? ??????, ?? ?? ?????? ???????? ??
?? ?????????? ???????????? ????????? ?а?????????? ?????. ????? ??????? ???????? ??????
???????? ??????? ????? ?? ??????, ???? ?? ??????
??????? ?????????? ???????, ?????????. ???? ????????????? ????? ??????????????? ????????.
????? ?????? ???????? ????
??????? ?? ??????????
???????????.
????? ???????? ?????????? 618
????. ?а??????? ??????????????
??????????? ???? ?а???????? ??
????????????? ?а???????. ?? ????,
??? ??????? ?????? ????????.
?????? ??? ?? ?????? ???????
???????-???????????????
?????
????? ???????? ????? 100а???.
??.а?а?? ??????????? ?????, ????
?? ??????????????? ???????? ?а?????????. ??? ????????? ?? ?????а?
?????? ??????? ?????????? ???? ??
?????????? ?а????????????? ?????
????????. ???????, ?????????????
?а??????????? ??????? ?????????
???????? ????? ???????? ?? ????
???????, ??? ????????? ???? ???
??????, ?????? ?????, ??????????.
?? 60 ??????? ??????????????
????? ?????????????
?а10а????? ????????? 16.
? ????? ?????? ?????????????
??????????? 60а??? ??????????????? ?????????? 2,3а???? ???.
л??????????, ??? ??????????
????? ????? ????????╗,? ???????
????? ??????? ?????? ???????
????????. ?????? ???????????
?а???????????: ???? ???? ??????????, ??? 60а??? ????? ?????????
?? ???????.
???????? ??????
??????????? ??????
??????? ????? ?????? ?????
?? ??????? ?? ????? ?а??? ?????? ?а??????????,
?а????? ????????? ???? ?а??????? ??????? ?????????? ??????????????? ??? ????? ?????? ??????????????????.
??????? ?а?????? ?????? ???????? ?а?????????
??????? ????? ?? ?????? ???????? ?????????. ???
???????? ??, ??? ???????????? ????????????? ????????? ?????? ???? ????????, ?а????????????????а?
????????. ????? ???????? ????????? ??????? ?а??
??????? ?????. ?а????????? ?????????? ?а?? ???????????? ?? ???а? ??????.
?? ????????? 1,5 ????
?????????? ????? ?????? ??
??????, ????????? ?????????
??? ???????? ??????.
?? ???????? ?а????????????? ??
?????? ??????, ??????? ???????
??????? ?????????? ?а?????????.
?????? ?????а? ?????? ????????,
????? ????, ????? ?????????????
??????? ??????.
??????????? ??????
????????????, ??? ?а2015 ????
????? ???????? ???????????
?а?????? ?????????? ?? 28%.
??????? ?????? ?а?????? ???
?????? ???? ????? ?? ?????????
?а??? ?? ???????? 2014-?? ??
41%, ?а???? ?????а? ?? 48%.
??????????? ?? ????? ???? ?????
?????????: ??? ???????????? ??
??????? ?????? ?????? ?а???? ????
????? ?? 20% ?а?? ?????????? ????
????? ?? 51%, ?а??? ????? ?? ????
????????????????.
??????? ????????????
?? ????????? ??????????,
??????????????? ?а??????
???? ?? ?????????
?????????? ??????,
??????? ????-????????? ???
?????? ??????. ?????????????
????????????, ??????????, ?????????? ?а??????????? ????????
??? ???????????????? ?? ????
??????????? ???????????????
??????-????
??????? ???????
?1 2 [10 2 0] 3 0 .0 3 ? 0 5 .0 4 . 2 01 5
?????????
????????. ?? ????? ??? ?а??????
??????? ??? ????????? ??????
?? ??????? ??????????????
???? 312 ??????????? ???????,
????? ??????????? ?? ?????????
?а2015 ????. ?????? ??????? ??
????? ??? ?? ????? ???????а? ????
????? ????????????? ????????
38а???? ???. ????? ?? 72а????????
??, ??? ???? ??????????? ?????н
??????? ?????????, ?????? 52 ??н
??????? ?????????? ?а?????????
?? 2015 ???.
??????????? ?????
?????????? ????????
???????????
???????????.
????? ??????? ????? ????????
??????????, ??? ???????? ? ???
л?? ?????????, ? ??????? ??????н
????? ???????? ????? ?? ????????
???╗. ????????, ? ???????? Forbes
25 ????? ??????? ???-??????????
???????? ???????????? ??????
???????????.
????? ?????????? ???????????
? ??????? ????????? ???????
????????? ??????????
????? ?????.
??????? ???????????? ?????????
????????? ????? ?????????? ????н
?????? ????? ??????????? ???????
???????? ??????. ??????? ????н
????????? ????? ????? ??????? ???н
?????. ?а??????? 2014 ???? ??????
?????? ?а?????? ???? ???????, ???
?а??????, ???????? ?? ????????
??? ?? ????? ???????? ????. ?а???н
??? ????? ??????? ?? ????????: ??н
??????????? ????????? ????????
???? ??????? ??????.
?????????? ????????????
????????????
??а????????????????
?????????? ??????,
??????????????? ?????? ???????н
???. ?? ????? ?????? ?? ????????
?а?????????? ????????????? ?????.
?????? ????? ??????? ?ал?????н
????╗ ?аUTairа? ?? 19а???????????.
????? ?????????????? ????????
?? 1,3% ?? ????????? ?а???????
????? ???????? ???????? ????,
?а???????? ?? ???? ???????н
?????? ???????????, ?? ???????
???????? ????????? ?? 14,5%
?????? ??????????, ??? ?????
??????. ???? ????? ?а????? ????
????????, ?????? ?? ??????? ?????
???? ????????? ??? ??????? ?????
??????? ????????. ?а?????????н
??? ?????? ????????? ???????н
???????? ???????????. ??????
????? ????? ????? ????????????
?????????? ?????? ?? ??????, ???
?а1990-?. ?а????????? ?????????н
??? ?а????? ?????? ?а???????????
?????, ???????? Cathay Pacific
Airways (???????), Thai Airways
?аSrilankan Airlines.
????? л????????╗
?ал??????? ????????╗
???????? ?а?????? ?а?????
????? ????? ?????????????.
??????? ??????, ???????????
??? ????? 2014 ????, ?а?????????
????? ???????????? ????????
????, ????????? ?а??????? 2014??. ?а24а????? ?? ???????????
?????? ???????? ?а???????????
?????, ?????????? ????????????
????? ?? ????????, ????????
????????? ?а??????????? ??????.
??????????? ????? ?? ????????,
???????? ????? 1 ????, ?????
???????? ?? ??????????????
300%. ???? ?????? ????? ??????,
????????? ?????? ?????? ?????
????????? ???????? ???????????.
???????????? ??????????? ????н
????? ??????? ??????? ????????
??? ??????. ???????, ?а?а??????
??? ?? ????? ?????????. ?а??????
????? ????????? ????????? ????н
????а? ??? ?? ??????? ?????????,
?? ??????? ?????.
?????? ???? ??????????
????????? ??????
?а???????????
??а?????????????
? ??????-??????? 2015-??
????????????? ?а????????????
????????? ???? (???). ?????????
????????? ??????? ?? ????, ????н
??????? ????????????? ????????
?а????? ?????? ??? ????????????,
?а????? ?????????? ???????
2-????. л?????????? ??????????
?????? ?а??????????? ?? ?????н
???????? ??????? ?????? ?????
?а?????????? ???????? ?????????
??????????. ?а???????? ????????н
??? ???????? ??????? ?????? ????н
???? ?а??????? ???????? ???????
???????? ????? ???????? ???? ??
????????????? ????????, ?а????н
????? ????????????? ??????
?а????╗,? ???????? ?а??? l
?????????: л???????????╗,
л?????????╗, ????, ???, Lenta.ru,
Regnum.
????? ??????? ? ?????????? ??? ? ?????????*
??????
40
30
????????
20
??
10
????????
0
4.XII?10.XII
11.XII?17.XII 18.XII?24.XII 25.XII?31.XII
2014
1.I?7.I
8.I?14.I
15.I?21.I
22.I?28.I
29.I?4.II
5.II?11.II
2015
12.II?18.II
19.II?25.II
26.II?4.III
5.III?11.III
*???? ?????????? ??? ???????, ? ??????? ??????????? ???? ??????? ? ?????? ? ???, ?? ?????? ????? ?????????? ?? ??????.
????????????? ????????? 16 ??????????? ???????????-???????????? ????? ? ????????, ? ????? 15 ??????? ????????? ????????-???????? ? ??????????? ???????? ????????
????? ??????????? ???????????. ?????? ??????????? ?? ??????????? ??????????? Integrum ? Factiva.
12.III?18.III
??????????? ??????
19
?????
????
??????? ????
?????
?????? ????? ????????
20
????
?????? ?? ???????? GM 26
TEKCT ????????? ?????????, ???? ??????
??????? ??????? ????
???? ???????? ??????, ????????? ?????????, ????????? ????????
??????? ?? ?????????? ??????? ???????? ????????? ???? ??????, ??????? ???????? ?? ???
??????. ?? ???? ? ?????????? ????? ?????? ? ???? ??????????. ??????? ?????????? ???????
????? ????????? ?????????? ???????????.
3 ?????? ???? ??????? ???????? ?а?????? ????? ??????????.
?? ???? ??? ?а??? ?????? ????? ???? ????? ?????а? ????? ?????????. ????? ???? ??? ?а??????? ???????? ???? ????????
????? ??????? ??????????? ?? ???? ?????? ?а???????? ????????
?????????????, ?????????? ?????? ?????????, ??? ??????
????? ??????????? л??????? ?а????????????? ?? ???????? ??????? ?а????????????? ?????????╗.
? ??? ??????? ????????, ?? ?????? ????? ??????????
????????????? ???? ????????? ???????? ?? ????? ?а????
??????? ????????. ???? ?а???, ??? ???, ???? ?а????????? ??????????, ??????????? ?? ??? ??? ????? ???? ??????а? ??-??
??????????? ?а??????? ????? ??????????? ??????. ??????
????????????? ?? ??????? ???? ???????? ????? ?? ???????????? ??????????? ??????????, ??????? ???????? ?? ?????-
?12 [1020] 30.03?05.04.2015
?????
??????????? ??????
??????
21
?12 [1020] 30.03?05.04.2015
??????
?????
8 ????????????
н?????????? ????????
???????????????
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?????? ??? ?????? ?а???????? ?????????? ?????? ??
3а???. ???. ?а???.
???????? ???? ??????? ????????, ??????????
?????? ?а?????? ?????? ????????? ???????????
?????. ????? ?????? ???????? ?????? ?????? ????
????? ???????? ???? ?а2015 ????, ????? ?????? ?????
???а? ?а2016-??. ??? ?????? ???? ??????? ????????
????? ??????????? ??????, ??????????? ??????????
??????, ????????????? ?? ?????????? ?????????,
???? ?? ????????. ?? ?а????, ??? ??? ????????? ???????????, ?????? ??? ??????? ???????????? ??????.
??????? ?а???????????? ?????????? ???????, ???????? ????????? ????????? ?????????? ?а???????????? ???????? ??? ??? ?????? ??????? ????????, ??? ????? ??????? ????? л?????? ????╗,
л?????? ??????╗, л???-????????╗ ???????? ??????
??? ????, ??? ?а???????? ??????????? ?????? ??
???????? ??? ??????? ????????. ?а????? ???????
??????? ?????????? ?????? ?????? ???????? ??????? ???????? ????? ??????-?????????????? ??
????????????? ??????????? ?а????????? ?? ??????
????? ?????. ?? ?????? ?????????, ??? ??????
????? ??????? ?? ???? ??????? ??????, ????
?ал??????????╗ ?? ????????? ????. ??????? ?а???,
??? ???????? ????? ????? ????? ??????? ????? ?а?????????? ???????????? ???????а? ??????, ????????, ???????? ?а????????????, ????????? ?????????? ?????????? ??????? ?????? ????????.
???????? ???????????? ?????? л??????-??????╗,
62% ????????? ????????? ?а????? ?? ???????? ????????????, ??? ?а12% ?? ????? ??????? ???? ??? ????????????? ??????. ??, ?????? ?????, ?? л?????????
??????? ???????╗ ???? ?? ??????. ?????????? ????????????? ???????, ??? ??????? ????? ?????????
??????? ???????? ????????. ??????????? ???? ?????? ?? ???????? ?????????? ?????? ????????
????????? ?? ?????????? ??????, ???????????? ???????? л???????? ?????????╗ (??? ???????? ??????????? ?????????????? ?????????? ???????????
?????????????): 55% ????????? ???????????? ??????? ????????, ??? 17% ???? ?? ????????????.
? ????? ?????????? ??????? ?а???????? ???????? ?? ????? ?а???? ??????? ???????? л???????╗
?????????? ?а??? л????????????? ???????????
???????????? ????????????╗ (????), ??????? ???????? ????? ???????? ?????????????? ??????????: л????????? ??????: ?????? ???????? ????????????? ????? ??????? ????????, ???????? ????????, ???????? ??????? ??? ???????????? ?????????? ?а?????????? ??? ?а??????????? ??????????╗.
????????а? ?????
? 1а?????? 2013 ???? ??????? ???????? ?????????? 2а925а469а048а???.? ??? ????? 18а?????
л???????╗ ??????? ?а????. ??? ????? ??????????? ?а?????? ?????? ??????? (600а???. ????????????? ?? 1,8а????. ???.), ??????? ?а???????
????, ?? ?????? ??????????????, ?????????? ???????????????? ???????? ????????? ????????
????????? ??????????????.
???????? ??????
??????????? ??????
22
???????? ???????????? ??????
л??????-??????╗, 62% ?????????
????????? ?а????? ?? ???????? ????????????, ??? ?а12% ?? ????? ??????? ???? ??? ????????????? ??????
???????? ??????????? ?????, ?????? ?? ??????? ???????? ????????? ?а????????? ??????. ???
?а??? ????? ???????????? ?? ????? ????????,
????? ?? ????????? ?? ?? ??????????????? ??????
??? ??????????? ?????? ?????? (??????????????
??? ????, ??? ?? ????? 10% ????? ?????? ????
????????? ?а???????????? ?а??????????? ???????). ??????? ?????? ???????? ?????????, ???
л??????????? ????? ???????? ???????????
?а????? ????????????? ???????? ??????? ???
??????? ????????╗. ????? ?????? ?? ????????????, ?? л???? ????? ??????????? ?? ?????????
?? ?????????╗.
?? ??????, ??????? ?????????? ????????
?????? ?????????? ?? ????? ????? ????, ????????????? ???? ???????? ???: л?? ?? ?????? ?????
????????? ???????. ???????? ????а? ??????????
????????? ????????, ????????? ??????-????????
????, ??????????? ?????????????????? ???????-
?????
?12 [1020] 30.03?05.04.2015
??????
????????? ????????
??????????? ??????
23
????? ??? ?????????, ????????????? ??????????
?а?????? ???????????╗.
?? ????? ????? л????????? ???????╗, ?????????? ?????? ?а?????? ?????? ?? ????????? ?а?а??????????: ?? ??? ???? ?? ???????? ?????????
?а????? ????????? ????? 16а???? ???. ????????,
??????????? ?а??????????? ?????? 150 ??????????
???????? ??????? ?а262,3а??? ???. ??????? ????????? ??????????? ?????????, ??????? ?????
????? 500а???. ???., ????????? 1,7а??? ???. ??? ????
???? ?а2012 ???? ??? ?????? ?????????? ???????
?????????? ?????? 30% ??????????????, ?а2014-?а?
????? 12%.
?????? ?????????? ??? ????? 500. ?? ???????????? ?а???? ???? ????????? ?????? ?а75,5а??? ???. ??
27%, ?а??? ?а????????? ????, ?а2012 ???? ???????????
?а???? SMS-????????. ?????? ?а???? ???? ?? ???????????? ????????? ?????? 7757 ????? ????????
????? 67а??? ???. ????? ?? ???????? ?а?? ?????
????????? ?????? ????????. ????????, ?? л??????????????╗ ????????? ?а???????? ???????????
???????? ?????????? ?а2015 ???? ????? ??????????
????? 69а???а???.
?? ????? ??????? ?????? ???????? ???????????
???????????? ???????а? ?????????? ?а????????????. ?? ??? ?? ?????? ??? ???? ???? ?????????
????? 6,8а???? ???. ?а???? ???? 168а???????????
?????, ?? ??? 150а????? ?? ??????????? ???????????а? ????????? л??????????????╗ ?ал??????-??????????╗. ??? ??? ????????? ?а???? ??????????
?????????. ??????, ???????? ??? ????????, ??????
?а??????? ???? ??? ???????????? 766а???. ????????-
7 ?а?????-??????????
???????? ??? ?????????? ????????,
??а??????? ?????н??
???а????????
??-??а???????
??? ?? 3,69а???? ???. ??????а? 383а???. ?? 1,71а????
???. ?????? л??????-??????????╗ ????????? ???????? ??????? ?????????? ????? ???: ????? ???????????? ????????? ?????????? ????????, ??-?? ????
??? ?????? ??????. ??????????? ??? ??????
????? ??????? ?а?????? ????. ?ал????????????????╗ ?а???? ?????????? ???? ?? ????.
???????????? ?? ??????
???? ??????? ??????? ?а??????? ?? ???? ?????????? ?????, ???????, ?? ?а?????????, ???? ?????
?????? ?? ??????? ???????????? ?????? ??????????????. л?????????? ??????? ?а???????????????
????????????? ?????? ???????, ???????? ???????????????, ??????, ??????????, ?? ???????? ???????? ???????????? ????????????╗,? ???????????? ?а????. ??? ????????? ??????? ????????
?а????, ??????, ?????????, ?????? ?а????? ??????????????, ??????, ?????????, ?????? ?а?????.
?????-????????? ?????? ?????? ????????????
???????????? ??????? ?а2,2а???? ???.? ?????
??????? ?????? ????? ???????????. ?а??? ????????? ???????? ???? ?? ?????????? ????? ?????????, ????????, ????????? ?а???????, ???????????? ?? 2,9а???. ????. ??? ??????? ????? 60а???.,
?????а? 3а???. ???. ???????????? ???????? ???????? ???????? ??????? ?а177а??? ???. ?? ???
?????? ???? ????????? ?????????, ??????? ???????? ?? ???????? ????????? ????, ??????????? ?????????????? ?????, ???????? ???????? ?а????????? ?????????? ????. ????? 70а??? ???. ?????
???????? ?? ???????? ?????????????? ??????. ??
?12 [1020] 30.03?05.04.2015
??????
?????
8 ?????????а?
????? ??????? ?????
?????????? ???????????? ???????
????? ???? ???? ??????? ???????? ?????????? ???
?? 2,5а???. ???? ?? ???? ?????????? ????? ?????
?а????????, ?????? ?????????? ???????? ???????а? ??? ????????.
??? ??????? ??????????????, ??? ????? ?????????? ??????? ??????????? ???????? ?????????
???????. ?????????? ?????????????? ?????? ???
?????????? ????????? ????, ?????? ?а???????
????? ????, ??? ??-?? ??????? ????? ?? ?????. ?а???????? ?? ???????? ???????????? ??????????????
?????-?????????? л???????╗ ??????????, ??? ?а2016
???? ??????? ????????? ???? ??????? ????????
???????? ?? 9а???. ???? ??? ????????, ?? ???????
????, ??? ???????????? ??????? ?? 2016 ??? ?????
?????? ??????????????? ??????.
? ??? ???????? ???? ???????? ??????а? 500
??????????? ???? ?? ???? ??????????? ??????а?
????????? ?????? ?????????????. ?а??????? ????
??????? ???????? ??????????? ?а??? ????. ?????
????????? ??? 1а???. ????. ??????? ?????????? ???????? ?? ??????????, ??????????? ????????? ???????? ?а???????? ??????-???????? ???? ????????????? ????? ??????????? ????????????, ???
?а??????? ???? ????? ???????? ????? 18,5а??? ???.:
?????? ???? ?? ????????? ????????, ????????? ?????? ?а?????????????? ?????, ??????? 20 ??????????, ???????? ?а?????????? ???????????? ???????????, ??????? ???? ???? ?????????.
????????? ???? ??????? ?а?????????????а?
30а???. ?а?????? ?а?????? ????? ????? 50а???. ?а???
(?????? 80а???. ?а???????? ??????????? ??????, 60а?
?а???? ????? ?????????? ?а???????, 40а???.
?а???а? ????? ?????????? ?а???). ?????? ?? ??????? ?а?????????????, ???????, ???? ???????????
(?? ???-???? ?? ???????????????) ??????. ?????????? ???????? ?а?????? ?? ????? ??????????
3,6а??? ???., ???????????????? ??????? ?? ???????
?? ????? ???. ???? ?? ?????? ?а??????? ?????? ???????. ?а????????????? ?? ??? ??? ?? ???????? ???,
??? ?????????, ?? ????????: ??-?? ?????????? ?а???????????????? ?????? ?????? ?а??????? ??? ?????
??? ?? ????? ???????????? ?а???, ?а???? ??????????? ????????? ??? ???????.
????? ?а????? ?????
??????? ??????? ????????????? ????????
?а????? ??????????????-???????? ??????????? ???????? ????????? ?а?а??? ???????, ??? ??? ????? ??
???????? ????.
????????, ?а?????????? ?????? ??????? ????????? ????????а? ?? ???????? ????а? ??????? ???
?а????? 2013 ????. ?????? ???? ??????? ????????
?а?????? ???????? ??? ????? 3а???. ????, ?? ?????
???? ?? ????? ???????? ?? 5а???. ????????? ????????а? 30а???. ?а??? ??? 300а???. ?? ?????.
?????а? 1а???. ???. ????????? ?????? ????????
???? 10% ??????, ?????????а? ???????? л????????? ????????╗ (?????? ?а?????? л?????╗, ???? ??
?????????? ?????????? ????????? ????????????).
???? ???????? ???????????????а? ???? ???.
????????? ?????????
??????????? ??????
24
л????????? ?????????? ???????
?????? ???????????. ??-?? ????????? ?????? ????? ????? ???????????? ?????????? ?? 70?85%╗
??????? л????????? ????????╗ ?а??????????
??????? ????????? 150а??? ???. (????? 40% ????
????? ?????????? ??????? ?? ????????????).
?а??????? ?????? ?а???????? ?? ???????, ??????
???????????? ????? ??????? ??????????? ???????? ?а?????? ???????, ???????? ?а???????, ??? ?????? ?????????? ???????????? ????? ?? ???????.
? ?????? ?????? ??????? ???????? ????????
?а???????????. ??????а? ????? ??. ??????? IT???????? л???????╗ ???????? ??????? ?? ???????? ?а???????????? ?а??????? ???? ??? ???? ??????? ???????? ?? 1,5а???. ????. ????? ??? ???? ??
??? ??????, ??? ?а??????????. ?????? ????????
?????? ???? ????????? ??? ?а???????, ???
????а? ?а?????? ?????. ?ал????????╗ ????????????, ??? ???? ?????? ????????? ???????? ?а71а???
???. ???????????? ???????? ?????????? ??????
?????? ??? ?а????????? ????, ????? ???????
?????? ???? ????????? 18а??? ???. ?????? ???????? л????????╗ ??????? ?????? ???????? ?????? ?????????. л????????? ?????????? ???????
?????? ???????????,? ???????????? ???????????????.? ??-?? ????????? ?????? ????? ?????
???????????? ?????????? ?? 70?85%. ??????????? ?а????????? ??????? ???????а? ????????
??а7?8%╗ l
??????
????
?????? ?? ???????? GM
????????? ??????????
???? OPEL ?а????????? ??????? CHEVROLETа? ??????? ?????? ???????? ?а???? ?????????????, ???? ????????? ????????? ?? ?????? ??????????? ?????????, ?? ?а???????? GENERAL MOTORS. ?? ??? ?????? ???????????? ?????????? ??????????? ?а??????????? ????????а? ????????? ?????? ????, ??? ?? ???? ????? ??????.
? ? ? ? , ? ? ? ? ? ? ? ? ? ? ? ???
??????? ?????? ??????????
GM ?а?????? ????? ???????????????? ????? ???????: ?????? ??????????. ?????????
???? ?????????????? ?а????????? ?а????? 1990-?а? ?????? 2000-?, ???????????
?????? ?? ???????????????
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???????????? ????????????
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???,? ??? ??? ??????? ?а???,
??? ??? GM ?????? ?? ???????? ?????????????? ??????. ?????????? ????? ????????????? ????-???????????? ???????? ????????????
?? ????????????? ?????????
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?????, ?? ??????? ????? ???????????? GM, ????????? ???????. 300а???. ????? ?а???
??? ????? ??????? ????????
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?12 [1020] 30.03?05.04.2015
26
????????, GM ????????? ?????????? ???????? ??????,
???? ??? ?? ?????? ?а??????
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Volkswagen ??? Hyundai.
л???????? ?? ????? ??
??????????? ????????? ?????????? ?а????????? ??????
???????????,? ???????? ?????????????? ????????? ???????????? Opel Group ??????????? ????????.? ??? ???????? ??????? ???????????
???? ?а??????, ????? ???????? ??? ??????╗.
? GM ?????????? ???????? ???????????? ?? ??????
7 ???? Opel ?аChevrolet ?? ????
?????? ????????? ???????,
?а?????? ??????? ?????????
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???????????. ??? ??? ???????????? ?????????? ?????
???????? ?? ?а????.
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?? ?????
?а????? Opel ?аChevrolet ?????????? ?а??????????? ????????????, ?а????? ?а??????-
????
??? ???????
?12 [1020] 30.03?05.04.2015
??????
9 ?? ????????? Chevrolet ?????????? ???????????? ?????? ????????
?????? ????????????? Niva
????? ?????? ?а?????-??н
???????? ???? ?????????
?а???????? ?????. ????? ??
?аGM ???????? ?а25-?????????? ?????? ?? ?????????? ???? ???????. ?????????? ?????????? ?а??????, ??
??? ?????? ????? ????????????? ?а??????? ?????? ?а??????????. л??? ??????????
GM ??????? ?? ????????? ?????????,? ????????? ???????? ?? ???????? ????????
Genser ?????? ??????.?
??, ??? ????????? ????????
?аGM ??? ?а??????? ????.
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??? ?? ????????????. ?? ???
?????????? ?????? ?? ????????????????╗. ?а???????????????? ???, ?? ??????
??????????, ?????? ?? ?????? ?? ?????? GM. л???????? ?????????,? ???????
?а????? ?? ??????? Favorit
Motors.? ???? ?? ?? ?? ????
???????: ?????? ??????? ??
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?????? ??? ?? ??? ??????
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???? ????? ?? ?????. ?аGM ??
???????????? ?? ????? ??????? ??????????.
????? ????, ?? ????? Opel
?а????????? Chevrolet ?????? ??????, ??? ?а???, ?? ???.
л?????? ?? ???????? ??????????? ??????????? ?а??????? ??????????╗,? ???????
????????? ?????????? л?????????? ??????????╗ ???????? ????????. ??? ?????????? ??????????? ??? ?????????? л????????╗ ?????????. ???? ?????? ?а?????а? ???
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??????? ???????????
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GM ?? ????????????.
?????? ??????? ?????
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?????? ??? ???????? ?? ????
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Volkswagen.
? ???????? GM ???? ????
???? ?????? ??????????????? ??????????? ?а??????????, ??????? ???????? ?? ???????? ??????? auto-dealer.
ru ???? ??????. ?а2008 ???? ?а??? GM, ???????? ?а????????? ???????, ????????
???????????? ?? ??????????
?????? ?а?? 20% ????????? ????????? ????. ??????????? ?????????? ????????? ?? ?????????? ????? ????? ?? ?????????? ?????????
????????. ?а??? ??? ???, ???
?а??? ?????????? ?????????????????? ?а??????? ??????????? ????????, ??? ?а????? ??????.
? ?????? ?? ???????????
????? ???????? ?а?????????
?????, ??????? ???? ??????,
?????????? $500а???., ???? ????????? ???? ????? ?а???????,
?а??? ??????? ?????? л??????
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???????????? ?а?????????
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??????? ????????? ???? ?????? ????? 2007 ????, ????? ?????????? ???????? ???? ??????????????????, ???? ??
?????? ????????. ?????????
Favorit Motors ???????? ????? ??????????, ??? ?а????????? ??? ??????? ????????
??????????? ?? ??????????
Opel, ????????? ???-????
?а????? ????????? ?????.
??????? ??????????? ?????????? ?а???????? GM ?????
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?? ??????? ?????? ?а????????? ?????????? ??????? ??????????? ??????????
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??????. ????????? ????????? ????????, ??? ????????
?????????, ?а????????? ????????? ????????? ?? ????? ?а????? ??? ????????????
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(186а???. ?????) ????? ????????? ????? 9а????а???.
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??????????? ??????
27
????
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28
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????? ???????. ?аOpel ??
146, ?аChevroletа? 161 ?????
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Sollers ??? ?????????? ???????????? ??????? ????
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????? ??????, ??? ?а??????????? ??????????????? ??????? ?????? ?аOpel ?аChevrolet
???????? ????????,
??? ????????? ?????????
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?? ??????? ?????????╗.
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??????????? ?? ????????? ??
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?а??????╗. ?? ???????????
????? ?????? ?????????? ??????? ???????????? ??????
?????а? ????????? ?????????????, ????????, ??? ??????? Peugeot-Citroen, ??? ????????, ?? ?????? ?????????
??????, ????? ????????? ?????????? ??????????? ?????????? ?? ?????? ??????????
????????.
? ??????????????? ?????????? ???????? ??? ??-
??? ???? ?а???????? ?аFord.
?а????????? ?????????????? ????? ????????? ?????? ???????????? ????????
????, ?а????????? ?? ?а???????? ????????? ????? ??
????? ??????. л?а?????? ????????? ???? ???? ????????? ?а???????? ?? ??????????
?????? ?? 3,5а??? ??????????? ?а2015?2016 ????, ?а??????????? ?????? ?а???????,?
??????? ?????? ??????.?
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????????? ????????? ???????????? ????????, ?????
???? ??????? ???????? ??????????? ?а???? ???????????
??????? ??????. ?а?????????? ???? ?? ????╗.
??? ?????? GM ??????
???? ??????а? ???-?? ?а????
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?????? ????? ?? ???????????
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????????? ???????,
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???????? ?? ????? ??? ????? ????????????? ?а??????. ?????? ??????? ????? ?? ???? ??????? ????? ??
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????, ?а?????? ???????????? ?? ?????????? ???????? ?????????? ?????????? ??? ???????? ?????.
?? ??????? ?????? ?? ???????? ???? ?????? ???????? ?????? ?????
?а?????? ????? ???????? (?а???????
???? ????????? ?? ??????а? ??????? ?а2011 ????). ??????????? ???????????? ?? ??????? ?????????????? ????????????: ?а????? 2008
???? ?а?????? ???????? ??????
Volkswagen, Renault, FordMotor, GM,
Toyota ?аNissan. ?а2010-? ?????? ??
?????? ??????? ?????? ???? ???????? ?а??????, ?а???? ?????????????
?а?????? ??????????? ????? ????????? ??????. ?а?????? ????????? ???
??????? ????????????? ????????.
? 2011-? ??????? ?????????? ????????????: ??????????? ????????? ??????????? ?? 60% ?а2018 ???? ?а?????????? ?????? ?а??????-????????????????? ?????? ?? ?????????? ??????. ?а??????????? ??????а? ?????
?? ?????? ???? ??? ?а??????? ???????. ??????????????, ??? ??? ?????????? ??????? ???????? ?а?????? ??????????? ???????????? ?а??????????? ??????????. ?а?????, ?а????
2013 ???? ?????????? ?а????? ?????? ?????????? ????????? ?????????? ????????Renault?Nissan?
л??????╗, ??????Mercedes, ?? Ford
Sollers, Volkswagen ?аGeneral Motors.
?????? ???????? ?????? ????????? ?????? ??????????, ??????? ????? ??????? ???? ?? ?????????????, ?а????????? ???????????
?а? ????????а? ?? ???????? ????? ????????????? ?а???????????.
????????, ????????? ???????: ???? ?????? ???? ???????? ??????????????? ?а?????? ?????? 317а????? ?? 1а???. ???????. ??? ?????????: ?а????????а? 579, ?а???????а?
588, ?а?а??????????, ???????
????????? ????? ??????????? ??????????? ???????????,? ?? 705.
?? ??????? ??????? ??????????? ????????? ????? ??????? ?а??????
?????? ????????. 2015 ??? ???????
???????. ???? ??????? ?????? ???-
????? ???????, ?а???????? ???????
?а?????? ????? ?? 24%.
??????????? ???????? ?????????? ?????, ??????? ?????? ?? ????? ????????? ??????????, ?? ????? ?? ???
????? ????? ????, ??? ?? ??????????? ????????? ?а??????? ????. ?а??????? ???? ?? ?????а? ???
????? 38% (??? ?а????, ?? ??????
?????????? ???????????? ???????), ?,а??? ????????? ???????? ??????????, ??? ?????? ??????, ?????????? ??? ????????? ????????? ?????
???????-???.
???? GM, ??????? ??? ?а2012 ????
??? ??????? ????????????? ?а?????????? ????? ????? $1а???? ?а??????????? ???????????. ?????????????
???????? ?а?????? ?????????
SsangYoung, ??????? ???????????
????????? ???????????? ?? ???????
???????. ?????????????? ???????
?а??????????? ?????? ????????????,
??????, ??? ????????? ???????? ????? ??????? ?а?????? ?а?????????????
??????????? ?????? ??????.
? ?????? ?? ?????? ??????? ?????? ?????? ??? ?а????????? ????????? ???????????? ?а??????????????? ???? ?????? ?????? ???????????????? (9,3%). ?? ??????? ?? ??? ????? ????? ????????: ??????????????
?????а? 30% ?????? 15%. ?????? ??
???? ??????? ?? ????? ???????????? ??????????? ????????, 30%
Ford Focus 2015 ????а? ??? ?????
230а???. ???.
?????????? ????????, ???, ???? ????????? ????? ???????????? ?????????
?????????? ?????????? 1а??? ???.,
??? ??? ?????????????? ??????, ?????????? ??????? ??? ????? ?? ?????.
???????????, ?????? ??? ??????????? ?????? ?? ?????????. ?а????? ??????, ????? ?? ?? ???-?? ?а????? ?а??
????. ??, ??????, ??????? ????????
???????????? ?а??????? ????????????? ????????? ????????а? ??????????? ???????????. л?????╗, ????????,
???????? ??????? ??????????? ????? ?? 36%. ?а????????? ???????????? ????????. ?а???????? ????? ??
?????? ???? ??????????????? ????????? ?а??????????? ??? ?? ?????????а? ??????? ???????????? ?? ??????????, ?,а???? ?????? ???????? ????????, ?????? ????? ?????? ?? ??????????? ????? ???????.
???? ?????????
?12 [1020] 30.03?05.04.2015
??????
???????????? ??????
?????? ???????
29
?????
? ???? ?? ??????
32
TEKCT ????? ??????????
???? PHOTOXPRESS
??????? ????? ???????????? ???????? ?? ?????????а? ?????? ?????????? ??????????????. ?????? ????????? ?а???? ???? ????? ?????
?? ????????? ????, ??????? ??? ????????? ??????????? ?????? ???????? ???????? 10а???. ???. ?а???. ???? ??????????? ????????? ??
?????? ???? ?? ????????? ????????, ?? ????? ???????? ?а?????? ????????????? ?а????????? ?а????? ?????? ????? ??????????? ??????
?а???????? ???????? ????????? ??? ??????????????.
? ??????? 2013 ???? ???????????? ??????? ?????? ?? ????????
??? ??????????? ?????? ??? ????????????? ?? ?????? ?????
?????????? ?????? л???????????? ???????????? ?????????????? ?а???????? ???????? ???????????╗. ?а????? ?????????? ??????? ?а?????? ??????????? ???????? ??????????а? ?а???
?? ???? ?????? ????????????? ?????????? ??????. ??????
?????, ?????????? ???????, ??????????????? ????????????? ??? ?а???????? ??? ??????? ???????: ??????? ?????? ???????а? 4,2а???? ???., ????? 6,9% ??? ??????. ?? ??? ????????
????????? ?? ???а? ????? 1,8а???? ???. ????????. ????? 10%
???? ???? ??????? ??????????? ?? ??????????, ??? ?а2013 ????
??? ???? ????? ?? ????? ??????? ??????????? ?а??????? ????.
???? ????????? ?а?????????? ?а??? ???? ????????а? 6,4%,
?а??????????? ?????????????а? ????? 2%.
? ??????? 2013 ???? ????? ???? ???????????? ???????? ????????????? ?а??? ??, ?а?а2014-? ?а??? ???? ?????????? ??????????а? 227а???? ???., ?? ??? ????? 170а???? ?а?????? ??????????????-???????? ??????????? ?????? ??????? ?????????.
?12 [1020] 30.03?05.04.2015
???????????? ??????
??????????? ??????
?????? ???????
29
?12 [1020] 30.03?05.04.2015
?????? ???????
???????????? ??????
??????????? ??????
30
л??????? ?? ????????? ?????? ??? ?? ?????????????
???????? ?????? ???? ????? ??????? ?????????
??????????. ?????? ???? ?????????? ?????? ?????? ??? ?????. ?а????????????? ????????????
?????????????? ?????? ????????????? ?? ???????
18?20%, ?????? ??? ??? ????-???????????? ?????????????╗,? ??????????? ?????????????? ????????
?? л???????? ???╗ ??????? ????????.
? ????? 2014 ??? ?????? ?? ?????? ??????????, ??
?а?????? ???????? ???????? ???????????? ??-??
???????. л???? ????????????? ?а??? ???????????
?????????? ????????╗,? ???????? ????????.
?? ??? ??????, ?а??????? ???????? 2014 ???? ??????????? ????????????? ????????? ?? ?????? ???????????? ????? ???????? 442а???? ???., ?а?????????
????? ?????? ??????????? ??? ????? ???????????
???????? 788а???? ???. (?а????? 2011 ????а? ?????
600а???? ???.).
? ?????? ??????? ?????????? ????? ?????? л???????????╗ ???????????? ????? ???????????? ?а????
???????. ?????? ?а2014 ???? ????????? ??????? ??????????? ?? ???? ????????? ???????????? ????? ???
?????????. ?а2015 ???? ???? ??????????? ???????
?? ?????? ????????? 8,7% ?а??????? ?? ??????.
?а?????? ?????????? ???? ?????????? ??????????
?а10% ?а1 ???? 2015 ????. ?а????? ????????????? ??
???????????? ?????????????, ?а???????????? ?а??????? ??????? ?а????? ?????????? ???????? ????????? ????? ??????? ?? ???????????? ?????? ?а?????????? ?????????? ?? ??? ?а2015 ???? ????? ??????????. ??? ????? ???????? ?? ??????? ?????? ??,
?
????????????????? ??????????? ????? ???????
?????????-?????????????? ???????? ?? ?????????
??? ????, ?? ??????? ?????????? ?а?????????? ??????? ????????? ???????. ????????? ??????????
???????? ???? ?????????? ??????? ????????????
????????? ?а2016?2017 ?????, ?а??????? ????? ??
??? ????? ?????????? ?а2015 ???? ?? 7,5% ?а2016-?
???????????? ???????? ?? 7,5% ??? ?????????????? ?а?? 8,5% ??? ????????? (?а??????? ????????а?
5,5% ??? ???? ????????????). ?? ???? ?????????
?????, ?? ?? ??????.
???????? ??????
??? ????????? ?а??, ??? ??????????????? ???????? ??
??? ??? ??????? ????? ?? ???????? ?????? ?????:
?????? ??????????? ????? ???????? ?? ?????????
?? ??????? ??????????? ?????? ????
?? ?????? ?????? ?? ????? ???????
л???????????-??????╗
(www.kommersant.ru/money/)
? 18 ?? 26 ????? 2015 ????
(22 275 ???????).
??, ?????? (58,64%)
????? ?????? (3,31%)
?????? ????????? (20,92%)
?????????? ????? ? ?????
?? ????????? ??????? (11,86%)
? ???????? ???????????? (5,27%)
???????, ????? ?а???? ?????. л???????? ?????????
?а??? ???????? ?? ??? ??? ?????╗,? ???????????? ?????????????? ???????? ?? л???????????? ?????
????????????? ???????? ?а????? ??? ??? ????
??????╗ ???????? ????????????.
???????? ??, ??? ????????? ????????????? ????
?? ?????????. л???????? ?? ??, ?? ?????? ????
????????? ?????? ????????? ???? ?а??????? ?????
????????? ?????? ???????????????? ???????????
??. ?? ???? ?????, ???????????? ?? ?????????, ????
?????? ???? ?????? ????????? ??????? ?а??????╗,?
??????? ???????????? ??????????? ??? ???????
л???? ????????????? ?а???
??????????? ??????????
????????╗
????? ?????????? ??????? ????????. ?????? ?????? ?? ?????? ?а?????: ???????? ???? ?????? ?? ????????????. л?а??? ??????????? ??????????? ????????, ??????? ?????? ?? ???????? ?а??????????╗,?
??????? ???????????? ???????? ?? ???????? ???????? ?а??? ??????? ?????? ?????????. л?? ???
????? ?? ??????? ????? ??????????? ?????а? ????
?????????? ????? 42% ?????????? ??, ?а?????? ????
100%. ?а??? ?????? ?? ???? ??????╗,? ??????? ??????????? ???????? ???????? л????????.??╗ ????
????????, ????? ?а????????? ?????? ?? ??????????
???????????????? ??????. л??????????? ???????? ??????, ??? ?? ????? ???????? ?а??? ???? ??????
?????, ????? ??? ????????, ??? ?????? ??? ?????????
????????. ?? ???? ??????????? ???????? ?? ?????
????? ???????╗,? ??????? ????????.
? ??????, ??? ????????? ?????? ?????????? ??????? ?????????? ???????? ?а?????? ??????? ?????
?а????????, ???? ?? ????????? ?????? ????? ??
?а???? ?? ???????. ??? ???????? л???????╗ ?а???????????? ??? ?а??????????????? ??????, л????????
?? ?? ??? ????????????????? ????????????? ???????? ?????, ?а?????? ?? ???????? ????????????, ???
??????????????? ???? ????????????? ????? ????????? ??????? ???????? ?а?????????? ?? ??????????????????? ?????? ??? ??/???╗. ?а?а?????????
??????? ????????????? ????? 85% ???????????????
????? ?а??????.
???? ????? ??????? ??????????? ?? ?????????,
??? ??????????? ??? ??????????? ??????????????
???????????? ?????. ?????? ??? ????? ????? ?????
?????? ???? ????? ????? ????????? ????????????
?????, ???????????? ?? ????????? ?? ??? ??????.
л???? ?????? ?????????? ?? ???????? ?????, ??
????? ????? ??????? ????? ?????????? ?????╗,?
????????? ????????. ?а???????, ?????? ??????????
??? ??????????? ????? ?????? ????? ???????? ??????????? ??????????? ???????? ????? ??? ???????.
???????????? ??????
?12 [1020] 30.03?05.04.2015
?????? ???????
л??????????? ???? ????????, ??????? ????????????? ?а???, ??? ??? ????? ??? ??? ???????? ?????????????. ?? ?????? ??? ?????????? ??????????? ??????????╗,? ??????? ????????. ?а???? ?? ?а??????????????? ???? ?? ?????? ?????? ????? ?????????. ?а?? ??????? ????????-??????????? ?????
?????? ????????? ??????????????. л????????, ????
????????? ?? ?????? ?? ??????????????, ??? ??????
?????????╗,? ??????? ????????.
л? ?????????? ??? ????? ?а?????????????? ??????
?? ????????????а? ?а??????, ?а?????, ???????
???????? ??????╗,? ??????? ??????????? ???????? ?????? ???????? ????????????? ???????
????????.
????????? ?? ???? ??????
? 2014 ???? ?а??????????? ???????? ???????? ?????
???????????? ????? ?? ?????? ???????????? ???????
??????????????? ????? (???). ????????????
????????? ?????? ???? ??????? ????? ?? ?????????а? 29а??????? 2014 ????: ?а1 ???? ????????
?????? ??????? ?? 15а???. ?? 1а??.а?. л??????????
?????????? ????? ??????а? ?? 18а?????? ?? ????╗,?
?????????? ?а???????????? ???????????? ???????
??????. ????????? ??????????? ?????? ????????
55а??.а?а?а?????? ?????? ?? ????????? ???? ????????? ?а10а???. ???. ?а???. ?????? ??? ??????? ??????
?????? ????????? ?????? ????? ?? ????????? ?а??????????? ????????.
? ???????? ????????? ?а???????? ????? ?????
?? ????????? ??? ??????? ????????. ???? ????????????? ????? ?а????????????? ??????? ???????? ?а???????? ?????????, ?? ??? ???????? ???????????? ????????? ??????????: ??? ?????????
????? ??? ?а??????????? ??????. ?а????? ?????
?????? ?????? ?? ????????? ??????????? ???????? ?????? л???????????? ??????╗. ??? ?????????? ?????? ????????? ?? ??? ????? ?? 2020 ????.
?? ??????? ?????? ????? ????????, ??? ?а????????
???? ????? ????????? ?????? ????????? ?? ???????????? ?????? ?????????? ?а????? ?????????????
?а???????????? ??????? ????????? ?????????? ???????? ???????. ????????????? ??? ???? ???????
??? ??, ??? ?а????????????? ??????? ?????????:
?а?????? ???????? ?????? ?? ????? ????????? ???????????? ???????? ?? ??????, ?а?????????????
???????? ??????????????.
7 ?а????? ?а??????
?????? ?? ??? ????????????? ????????
?????????????? ???
????? ??????? ???????
???????, ?а?????????? ???????, ???
????????? ?? ?????????? ??????????
?а1а??? 2014 ???? (?????? ?????? 7,8а???.
?? 1а??.а?), ???? ??????????????а? ?????
11%. л?а???? ???????? ??????????????? ??????. ???????????? ?????? ??
??????????? ??????, ?а????? ????????
????? ???????? ?а????????? ?а????????
???????╗,? ??????? ???????????? ????????????? ?????? ?? л???-????????
??╗ ?а???? ??????????????? ?????? ?????
???????????? ??????? ?? ???? ??????.
?????? ?? ????????? ????? ?????????????? ?? ?????? ??????? ?? ???????????
????????? ???? ??? ????????? ?????????????
????????? (?а??????? ??? ???? ???????????? ??????? ??? ??????, ????????????? ????????????
???? ?? ???????? ??? ?а??????????????? ??????
?????????). ???????, ?????? ?? ???????????? ???????? ????????????? ????????? ????????????, ???????? ????????, ?а??????, ???? ?????? ???????????
??????????? ??????? ?? ????????? ???????? ?????
???????? ??????? ?????????????? ?а?????? ??????,
???????? ?а???????????? ????????? ???? ????? ?????????? ?? ???? ????????????? ?????????. л???? ???????????? ?? ??????? ??? ?а????????? ?????????????, ????? ???????? ?????????????? ?????? ??????? ??????? ?а???????????? ????? ????????????
??????? ?????? ??? ?? ????? ????????????? ?????????╗,? ???????? ???????????? ???????? ?? ?????? ?а?????????????? ????????? ????? ??????
????? ?????????.
???? ?? ?????????????? ??????????? ?????????
?а???? ?? 1/170а?????? ???????????????? ??. л????
??????? ?? ?????? ?????? ??? ?а?? ???? ?????? ??????, ????? ?? ?????? ?? ??? ??????? ??? ?? ???????.
??????? ?????? ????????? ?? ?????а? ??????? ????????? ??????. ?? ?а91-?? ???а? ?????????? ??????
1/170, ??? 17% ???????╗,? ????????? ???? ????????,
???????????? ?????????, ?????. ?? ??? ??????,
?????????????? ???????? ?????? ?а?????? ???????????? ?? ????????????? ????????? ??????, ????-??????? ????? ??????????? ???????, ?????????? ????????? ????????? ??? ????????? ?? ????? ???.
?? ????? ????? ?????????? ????????? ????? ???????? ??????? ???, ??? ?? ??????? л??? ?а?? ??????: ??????? ?? ?????????? ??????????????? ???
?????????????? ?????? ?? ?????????! ????????
????? ????????, ??? ?а??????. ?? ?а??? ?? ??? ??
????╗,? ??????? ????????????. л????? ??????? ????????, ??????? ?? ?? ???????? ??????? ???????
?а???????╗,? ????????? ????????.
??? ??? ?????, ???? ???????????а? ??? ???????????? ?????????, ?а???? ?????????, ??? ?? ?? ?????????? ????? ?????? ??, ??????? ????????? (?а???????????) ?????? ?????????? ?????. ??????, ????????, ????????????? ?????????? ?????? ?? ??????
????????? ??????? ?? ????????? ?а????????? ?а????????? ?????? ????????? ?????? ?? ??? ????????
?????? ??????? ??????? ?? ?????????????? l
??????????? ??????
31
?????? ???????
?????
? ???? ?? ??????
????????? ???????
????, ??????, ?ASH-?ACK. ???? ???? ?? ?????? ?????????? ???????????
???? ????????????? ?а???, ????? ??? ????? ???? ????????? ?а??????????
??????????. ?????? ????? ??????????? ??? ????? ??????? ?????????
? ???????? ??????????????? ????? ??? ????? ????????.
???????? ??????
??????????? ??????
?12 [1020] 30.03?05.04.2015
32
???????? ?????? ????????????? ????????? ??????????
???????????? (????), 11%
??????? ???????????? ???????????? ??????????? ??????? ?а???????? cash-back
??? ??????, ?? ??????? ??????? ??????. ??? ???????, ??? ???????? ??????? ?????????, ?а???????? ?? 25а??
44а???. л??? ?????, ?????
????? ?? ?????? ?????? ?а?????????, ?а?????? ??? ?????????????,? ??????? ???????? ???????????? ????????? ????????? ?а??????????
?????????-????? ????????
?????????.? ??????? ???
????? ???????? ?? ????????
?а?????? 2014 ???? ?? ?????-
???? ??????? ???????? ???
???????? ??????????╗.
??????????? ??? ???????
????? ????????? ??????????
??????? ??? ????????? ??????????. ?а?????????, ?????
??? ?????-????, ????????
??? ????????-????, ?????????? ?? ????? ????????????
????????.
? ? ? ? ? ? ? ? ? ? ? ?????????
?? ???????? ????? ????????
?????????? ?? ??????????
?????????? ??????. ?????
???????? ??????? ?????????? ???????? ???????. ?????? ????? ??? ???????? ????????? ?? ?????????? ????
??? ?????? ???????????
????????. ?????? ????? ????
????????? ???????? ???????
?????????? ???? ?а???????????? ?а?????? ??????? ?????. ?????? ?ал??????????╗,
S7, Miles & More ?????? ??????? ???? ???? ?? ?????? ??????????? 30а???., ??????а?
?? 60а???. ??????? ??? ???????? ?????-????, ????????,
л?????????╗ ?а?????? ?????.
л????????? ??????????
???? ???? ????? ?????? ??????????? ?а??????????????? ?? ???? ???????? ??????????,? ???????????? ?????????.? ???? ???????? ?а???????????? ???? ?? ??????
?а????????? ?? ???????. ???
????? ??? ?????????????? ??-
7 ?????? ?????? ??????????? ????
????? ?????????? ???????? ?????н
???н???? ??????????? ??????????
?????, ?? ????? ??? ????? ??
?а????? ?? ???????? ??????????????? ??????? ?????????????? ?????, ???????
???? ???????????? ???????
?????? ??? ?????? ?????.
???????????? ???????? ????????? ??????????, ????????? ???????? ???? ?? ???????, ?????????? ?????????╗.
?? ????????? ?????? ????????? ???? ?а?????? ?????????
?аAustrian Airlines ??????????н
????: ???? ???? ?? 30 ??????????? ??????, ??? ?а??????. ??? ?????????? л???????╗
?????
?12 [1020] 30.03?05.04.2015
?????? ???????
?а?????-?????? ???24, ????
?ал?????????╗ ????????? ?????????? ?а???????????? ?????? ?????????? ?????? ???
???????? ?а2015 ????. ?????????? ???????????????? ?а?? ???????????? ???????? ????,
?а?? ????? ???????. ???????
??????? ????????? ?а?? ?????????? ????? ???24 ?а???????????? л??????╗. л????????, ?а????????? ?????? ????
??????????? ?????????????
????????? ???????? ?? ????
?????-?? ?????? ?????????╗,?
???????? ?????????. ?????? ???, ??? ????? ????????? ?????? ?? ?????????, ????,
?? ?а????? ???? ???????? ???
??????. л?????? ????? ?а????????? ????? ??????????? ????????? ????? ???????????
?????????, ?????????? ??????? ?? ?? ????????? ?а?????
????????????? ?????????╗,?
??????? ???????? ???????????? ?? ???????? ????????? ?а????? ????? л???? ??????╗ ????? ??????.
? ????? ????????? ?????
??????? ??, ??? ???????? ??
????????? cash-back. ?а????
?????? ???? ?? ??????? ?? ???????? ?а??? ??????, ?????
????????, ????? ?а????? ??????? ????? ????????????.
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? л?а?????
?????? ?????????? ????????
???????? ?аcash-back ??????????? ????????? ??????????,
?????????? ?? ??????????
???? ?а??????????? ???????????????, ?????? ??? cashbackа? ????? ???????? ?а?????????? ??????? ??????????????,? ??????? ?????????.?
?а????? ??????? ?????? ????
???????????? ??????? ?????
?аcash-back 1%, ??????? ??????????? ?? ????? ??????????. ???? ?????, ?? ???????
??????????? 10% ????? ?????
?а????????? ??????????╗.
?
????? ????????? ????????
???????: ???? л????????╗ ???????? ??????????? ???????
л????? ??????????╗ ?????????? ??? ??????????? л????????╗. ????????????? ?????-
?????????? ??????????? ???????? ?а????????? ?? ????? ?????? ?а?????????? ??
л???????-??????╗, ?а?????
???????????? ?? ??? ???????
?? ???????. ????? ????, ???????????? cash-back ?а??????? 3% ????? ???? ?а????? ??
????????? ?????????а? л????????╗, л????╗, л??????????? ????????╗.
????????? ??????????
???????? ??????? ?????????
?а?а???н?? ??????. ?????????? ????????? ???? ????????? Standard ????????? л???
?????╗ ???? cash-back ?а??????? 1% ?? ???? ?????????????, 2%а? ?? ?????????????,
3%а? ?а????, ??????????, ????????? ????????? ?а??????????, 10%а? ?? ?????? ?????
?а???? ?а?????????? ?а???????
?????? ?? ??? ????????. л???????? ?? ????? ?????????
?а?????????? ???????? ????
?????? ????????? ?а?????? ????????? ????????? ?????????? ??? ?????? ?а?????
????? ?? ?????? ???????? 2015
???? ????????? ??? ?????????
?а?????????? ????╗,? ????????? ???????? ????????????
????????? ????????? ?????
?????? ????? ???????.
?????? ???? л???? ??????╗ ???????????????? ????
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