A slowdown in economic growth in Russia is taking its toll on the auto market. After sales of new cars dipped unexpectedly in March, AvtoVaz, the country’s leading automaker, is considering trimming its 2013 production forecast.
Russian auto dealers are hoping that abnormally bad weather accounted for a 4 per cent decline in new car sales in March and that the market will pick up in the coming months. Continue reading »
The northern hemisphere spring has come at last and it’s time for motorists in Russia to switch from winter to summer wheels. The first warm sunshine of the year is also a reminder of the gains awaiting foreign tyre makers that are flocking to Russia to establish manufacturing ventures.
Among the latest to arrive is a partnership between Bridgestone and Mitsubishi of Japan, set to invest Y37.5bn ($377m) in a new tyre making plant in Russia’s Ulyanovsk region. Continue reading »
Global automakers that have looked to Russia to escape the doldrums in Europe are finding the going tougher this year.
After climbing by more than 10 per cent in 2012, sales of new cars in the world’s seventh biggest car market increased by just 3 per cent in the first two months of this year, mirroring a slowdown in economic growth. Continue reading »
By Ben Aris of bne
Reforms to Russia’s automotive sector have been a rare success story in the country. The latest illustration comes from Sollers, the independent carmaker, whose announcement of robust six-month earnings for its new joint venture with Ford led to a doubling of its share price. Continue reading »
For global automakers, the Russian car industry appears to be a bright spot - a very, very bright spot - against a dismal European auto market.
At the Moscow auto show, which kicked off on the outskirts of the Russian capital on Wednesday, brands like General Motors, Volkswagen and BMW were falling over themselves to emphasise the market’s importance to their brands, lay out expansion plans and praise the Russian car buyer. Continue reading »
Russian auto makers are not known for high performance cars so it’s a surprise to learn that Marussia Motors, a newcomer to the market, has developed the country’s ﬁrst ever sports car that will be assembled almost entirely from locally made parts.
Impeccably stylish and fast off the lights the B2 (photo above) so far exists only in prototype, but it’s already turning heads. Electronic Arts, the US video games publisher, agreed this week to race the Russian sports car in its popular Need for Speed multiplayer online action game. Continue reading »
Most of the world’s leading auto makers have established their own assembly plants in Russia and are now stepping up production to take advantage of rising local demand for passenger cars.
Taking a different route, Renault-Nissan last week said it would spend $750m to acquire a controlling stake in AvtoVaz, Russia’s oldest and biggest auto manufacturer. Continue reading »