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CAR MARKETS * Russia
* Russia - Poised to become 5th largest auto market
Bostos,MASS,USA -The Detroit News, by Karl Henkel -July 18, 2013: -- A new report says Russia could become the world’s fifth-largest auto market by the end of the decade... The report, from global firm Boston Consulting Group, projects that Russia’s auto market, which totals about 2.9 million sales annually, will grow at an annual rate of 6 percent through the end of the decade and surpass 4.4 million per year... Russia is currently seventh — it was tenth in 2009 — but will be aided in coming years by special government programs to entice citizens to buy cars. In addition, automakers like Ford Motor Co. and General Motors Co. have recently built plants in Russia for locally produced products... Only China, the U.S., India and Brazil will be larger auto markets by 2020, according to the BCG report. Russia will surpass Germany as the largest auto market in Europe by that time, though many in the industry expect that to happen in the next few years...
Labels: auto markets
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