New Report Available from ReportBuyer.com Says Renault Will Double Logan Production in Russia
Report Buyer, the online destination for business intelligence for major industry sectors, has now added a new report on the growing demand for foreign cars and services in Russia. "Russia's Car Market: Runaway Demand for Foreign Autos and Services," forecasts that Renault will aim to make its Logan one of the three best selling cars in Russia.
(PRWEB) June 24, 2007 -- Report Buyer, the online destination for business intelligence for major industry sectors, has now added a new report on the growing demand for foreign cars and services in Russia. "Russia's Car Market: Runaway Demand for Foreign Autos and Services," forecasts that Renault will aim to make its Logan one of the three best selling cars in Russia.
Russia's new car market grew by 28.5 percent in 2006, making it one of the fastest growing car markets in the world and therefore highly lucrative to manufacturers who can penetrate the market. More than half the cars sold in 2006 were non-Russian brands. Demand is expected to push the number of locally assembled foreign brands to more than double over the next five years.
In 2006 Renault was the sixth bestselling foreign brand, behind Ford, Chevrolet, Hyundai, Toyota and Nissan. It now plans to make its budget car, Logan, one of the three bestselling cars in the local Russian market by 2009. As a result it will invest more than $150 million in its plant operation, and employ around 3,400 people in Russia by 2009.
There is soaring demand for Renaults budget car; the Logan is perfect for the Russian car market. It's a relatively modern product, of relatively good build quality and at an affordable price. It is positioned to attract new car buyers who can just about afford to buy a new car which is more expensive than the domestic-made Lada; and the number of those people in the country is growing. This is for a number of reasons both practical and aspirational. Among them, many of the older, cheaper, cars do not comply with present-day industry standards in terms of emissions and safety. In addition, Russians are experiencing higher wages and a developing market for consumer credits and leasing.
This report provides projections of the Russian automotive market till 2011. It analyses some of the investment opportunities for foreign automotive companies, arising from the projected growth of Russia's automotive market till 2011. The investment opportunities analysed range from vehicle assembly and manufacturing of components, through to leasing and management of corporate fleets.
The report also looks at:
| | - the main drivers behind the market growth and the consequential qualitative changes;
- some aspects of the government's strategy for the national auto industry and its implementation; the growing trend among foreign auto companies towards localizing production in Russia;
- the implications of the evolving market for Russia's domestic automotive manufacturers.
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"Russia's Car Market: Runaway Demand for Foreign Autos and Services," is available in pdf format from Report Buyer. For more information go to: http://www.reportbuyer.com/automotive/cars/russias_automotive_market.html
Report Buyer product ID: DAT05339
About Report Buyer.
Report Buyer is a UK-based independent online store supplying business information on major industry sectors. These include the Automotive Industry, Banking & Finance, Energy & Utilities, Food & Drink, Telecoms and Pharma & Healthcare. The website now carries over 24,000 business information products, including market reports, studies and books. Report Buyer is the intelligent way to buy market research making it an essential resource for executives and information buyers worldwide. Subscribers receive a free monthly newsletter and email alerts on new titles in their areas of interest.
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