Tuesday, October 09, 2007

Chevrolet Becomes Most Popular Foreign Car Brand in Russia

Chevrolet, the largest selling brand of General Motors, is now the most popular foreign brand of car in Russia. From January to September 2007, Chevrolet sold 1,137,238 cars being the top selling brand among the foreign car companies. The amount of 1,137,238 includes the sales of GM-AvtoVAZ venture. Ford and Toyota secure the second and third place in terms of sales in the first nine months of this year.

Foreign car companies have seen a huge success in this year so far with 63% rise in car sales compared to the last year. The probable reasons behind the success of foreign car companies are the increase of income of the buyers and the growth of sales volume in various regions besides Moscow and St Petersburg.

Russia IC reported:
The booming demand for foreign cars resulted in construction of new car-making plants or remodeling old plant facilities by foreign companies. General Motors is planning 2.5 increase of capacity of its plant, which is being built under St Petersburg, up to 100 thousands automobiles per year. However, the head of GM Europe is not sure it will satisfy the Russian market.

It is natural that foreign companies will try their best to grab the ever increasing Russian market. Russian market seems to be potential for the foreign car companies. So, the companies are interested to set up plants in Russia considering the potential Russian market.