Russia had just surpass Germany as the largest automotive market in Europe. With 1.65 Million vehicles delivered for the first 6 months, with a staggering increase of 41% over same period prior year. Revenues rise by a phenomenal 61% over prior year, with revenue growth higher than vehicle growth by 20%, this is a clear sign consumers are spending more on each car they purchase.
Top players currently are GM and Hyundai, pulling down previous top two players - Ford and Toyota. This suggests rocketing demands had resulted in a very fair play amongst major automakers.
Very different from developing countries with own local brands, imported vehicle sales increased by 54% to 785,000 which is around half of the 1.65 Million cars sold. 9 out of the top 10 car makes in Russia are either US or Asian.
With Russia's economy growing ever stronger, it is predicted by end of 2008, sales figures should be closed to 3.8 Million.
