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Booming Russian Automobile Sector
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Published: Mar 2011 | Pages: 56 | Pub ID: MM1298977960 |
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Russia is one of the fastest growing automobile markets in the world. Driven by low penetration, tremendous demand potential, and the government involvement, the industry once again gained momentum in terms of both production and sales volume in 2010. Sharp growth during 2010 has placed the industry back into the race of becoming the biggest automobile market in Europe. It is expected that the sales of vehicles in terms of volume will increase at a CAGR of over 32% during 2011-2014.
According to our latest research report “Booming Russian Automobile Sector”, the automobile industry in the country witnessed a sharp comeback during 2010, after a slow 2009. General economic conditions have vastly improved in the country leading to higher spending levels and demand for non-essential and luxury goods, which includes vehicles. Besides, a string of government initiatives provided a jump start to the industry, thus placing it back on the global automobile arena. Demand for passenger cars and commercial vehicles, i.e. trucks and buses, increased significantly during the 2010 with almost all market players reviving their numbers from 2009.
Further, the automobile trade market, especially import of foreign vehicles witnessed structural changes and dynamics of market share of Russian brands and foreign brands changed at a very fast pace. Automotive components and other supplementary industries are also set to gain from the improving market conditions. The government regulations will also change the map of the Russian automobile industry. These regulations are thoroughly discussed in the report.
Besides, the report analyzes factors critical to the success of the automobile industry in Russia. It has also identified key players in the market and presents their detail business description along with their recent activities. Additionally, the report not only discusses the market structure, current, and past market performance of the automobile industry, but also sheds light on the emerging market opportunities. Forecasts for both sales and production of all important segments of market, such as passenger cars, trucks, and buses have also been included to provide better understanding of the automobile sector in the country. |
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| By: RNCOS |
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