29 August 2012

RUSSIA : Cars Makers Salivate Over Mother Russia As Boom Market.


      Forget India...and maybe Brasil, too.
      The world's car makers are now drooling...over Russia.
      VW and GM have announced new billion dollar investments there.
      Even with entry into the WTO...Russia's high import taxes force car makers to set up production inside the country.
      VW has forecast a 30% increase in sales there for 2012.
     While Europe suffers from austerity...oil rich Russia has a growing middle class...and plenty of old cars that need replacement.
      Russian vehicle sales grew by 40% last year...to 2.6 million cars....and $60 billion.