foreign car in Russia. This success in the market is evident in the sales of 131, 653 cars that also include the sales of GM-AvtoVAZ venture. The number two largest-selling is Ford with 130, 410 followed by Toyota with 110, 484.
Foreign cars have been continuously doing well in the Russian market with an increase of about 63 percent, which is equivalent to 1,137,238 from January to September. This data is according to the statistics report of Carmakers Committee of the European Business Association in the RF.
According to the analysts, there are various reasons behind the sales growth of foreign cars in Russia. First of all, the people in Russia are earning higher incomes and second is the expansion to the regions of Russia. The third factor is the presence of consumer loans that offer various opportunities.
Because of this stable growth, foreign car companies are improving and constructing their plants in Russia. GM, in particular is planning to double the capacity of its facility located near St. Petersburg. The company expects this facility to make 100, 000 cars per year to meet Russia’s increasing demand.
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