Report: Russian new car sales may grow more than forecast this year

Article by Christian A., on November 15, 2010

The Association of European Businesses said on Tuesday that it raised its target to 1.8 million vehicles from a prior estimate of about 1.67 million. AEB members include automakers Ford Motor Co. and Volkswagen AG. Russian new car sales could grow more than predicted this year as the government’s rebate program stimulates demand.

AEB added that new car sales of light vehicles and passenger cars surged 62 percent in October from the same month in 2009 to 188,478. That thrust sales in the first 10 months to 1.5 million vehicles, or 22 percent more than the same period in 2009.

Partly owned by Renault SA, the state-run AvtoVAZ led the advance, with sales increasing 78 percent to 50,251 last month, giving it more than ¼ of the domestic market.

The Russian government sees a 4 percent growth of the economy in 2010.

Russia is recovering from the 7.9 percent contraction in 2009 as higher domestic consumption and commodities prices drive growth.

In March, the Russian government started giving vouchers worth 50,000 rubles ($1,631) to individuals who agree to exchange cars older than 10 years for new Russian-made vehicles. The government did this in an effort to help manufacturers affected by the steepest economic decline on record. [via autonews - sub. required]

Topics: russia, sales

If you liked the article, share on:

Comments

Recommended

Without a doubt, the SUV segment is getting increasingly more saturated. This month alone, we were greeted with city-oriented SUVs from the Kia Stonic to the Hyundai Kona, and now...
by - June 27, 2017
The Swedish moose test is known to have victimized many in the past, including the Toyota Hilux that massively failed. So knowing that many cars from trusted and leading automakers...
by - June 27, 2017
All-new BMW X3 (G01) just made its debut! The updated model has a familiar design, and slightly increased dimensions compared to its successful predecessors. For more cabin space, the wheelbase...
by - June 27, 2017
Polestar is notably known to be Volvo's internal performance specialists, and around last year Polestar revealed to the public that it will utilize electrification to further advance the power of...
by - June 26, 2017
Earlier this month, Porsche introduced to us the 911 Turbo S Exclusive Series. The car wore a Golden Yellow Metallic paint. The same time it was launched, the company said...
by - June 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries