Russian market booming, ready to overtake Germans

While the rest of Europe and the United States are reeling over the ridiculous spiking in oil prices, the jumps have energized the Russian economy, which has put lots more cash into Russian citizens’ hands. This has meant a huge increase in car sales, and the increase has the country in a position to overtake Germany this year in becoming Europe’s largest automotive market.

The Russians seem to be drooling over the Ford Focus and the Renault SA Logan, where both cars have sold a whopping 30,000 cars since the beginning of the year. A recent audit has estimated that Russian consumers will buy as many as 3.8 million new cars this year, whereas the estimate for Germany is sitting at approximately 3.2 million.

To boot, of the top five models that are being sold in Russia, 3 of them are locally produced. In terms of comparing last year to this year, the increase alone this year has been up almost 50%, and in June alone the increase was 44%. It’s safe to say that capitalism has taken full hold in the former communist country.

Recent Entries:
· 2011 Ford Explorer
· Honda Announces Mileage Marathon Winner
· Cadillac Converj is GM's next electric car

[ READER COMMENTS ]

Add your comments...

We kindly ask that you keep your comments relevant to this blog entry. Abusive or inappropriate comments or comments that are specifically promotional in nature may be removed.

Your Name: (required)

Your Email Address: (required, will be kept private)

Your Website's URL: (optional)

Would you like us to remember your info for next time?
YesNo

Your Comments: