RUSSIA: Government forecasts 1.6 million car market this year
Acccording to Novecon, the Russian Economic Development and Trade Ministry forecasts that 1.6 million cars are to be sold in Russia in 2002, up by 200,000 over the 2001 figure.
The report says that the increase is reached by selling more new and used foreign cars.
In 2002 AvtoVAZ expects to sell 600,000-620,000 cars in Russia. Another 90,000 or so are to be made and sold by AvtoVAZ via its assembly shops throughout the Russian regions. Other Russian carmakers are to produce and sell 200,000-220,000 cars.
This year has seen widespread gains in the Russian car market by foreign brands. AvtoVAZ has recently announced a halt to production in response to a build up of inventory and is said to be planning substantial cutbacks to its workforce.