Foreign car sales in Russia grow 70% to 720,000 in H1 2007
Sales of foreign cars in Russia increased 70%, year-on-year, in January-June 2007, to 720,143 vehicles, the automobile manufacturers committee of the Association of European Business (AEB) in Russia said Monday.
In June 2007, foreign car sales grew 57%, year-on-year, to 89,053 vehicles, the AEB said in a statement. Chevrolet (including cars produced by the GM-AvtoVAZ joint venture) was the most popular foreign brand in Russia in January-June 2007, with sales totaling 84,467 vehicles, followed by Ford with sales of 81,782, and Toyota with sales of 72,331, the statement said.
As Russia continues to reap benefits from high world oil prices and increases in household disposable incomes mean more money to spend on consumer goods, foreign car makers are expanding their auto production in the country. At a special ceremony July 8, Japanese company Nissan laid the foundation stone for its $200 million auto plant in St. Petersburg, Russia's second city, which will produce about 50,000 vehicles a year, Russia's respected business daily Vedomosti said Monday. According to Vedomosti, Nissan plans to produce two models at its St. Petersburg factory: the Teana sedan and the X-Trail off road vehicle. (en.rian.ru)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.