Opel aims to double its market share in Russia

Published by Andrew Christian @andrew4wheels Google+ | Friday October 21, 2011

Opel aims to double its market share in Russia

Opel, which is the European subsidiary of General Motors, seeks to boost its share in the Russian market from 2.6 percent to 5 percent in the following two to three years, CEO Karl-Friedrich Stracke revealed. He further disclosed in an interview with the Financial Times Deutschland that for this year, the company already sold around 50,000 units on the Russian market, adding that he was "optimistic" that the company will "continuously expand that."

Moreover, GM has added a shift at its Russian facility in St. Petersburg. Opel will be utilizing a part of that new capacity to produce its own automobiles, Stracke stated.

Chevrolet, which is Opel's sister brand, is the second bestselling marque in Russia behind Lada. Sales of Chevrolet in Russia increased 57 percent to 126,899 in the first nine months, as published by the Moscow-based Association of European Businesses.

Opel sales almost increased 100% to 48,543 during the same period. Opel is the 14th bestselling brand in Russia.

The country's vehicle market has rebounded greatly from the economic crisis. The nation could be on the right track to go back to achieving sales levels that it had last recorded in 2008, before demand hit bottom in 2009.

This development would enable the nation to contest Germany as the European leader on vehicle sales, according to the AEB. [source: Autonews]