Russia’s car market is set to grow by 20%-40% in 2011 according to a Russia-based PwC consultant.
Stanley Root told the Prime-Tass news agency that the market would reach 2.2m-2.5m units in 2011. Russia’s car imports are forecast at 690,000-820,000 vehicles, up 15%-37% on the year; sales of domestic car producers are projected to amount to 600,000-620,000 vehicles, up 8%-12% on the year; while sales of Russian-made foreign-branded vehicles are forecast at 820,000-1.1m units in 2011, up 35%-75% on the year.
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Meanwhile, Renault projects that the Russian vehicle market will turn out at 2.6m-2.7m units this year. Russia-based Renault manager Bruno Ancelin told Dow Jones that he expected the final number to be closer to 2.7m. Dow Jones said that the forecast matches that of Russia’s trade ministry, which recently said the vehicle market would turn out at 2.7m units this year.
AEB figures show that the Russian light vehicle market was up by 40% in June.
