“Russian market may start growing in 2017”

“Russian market may start growing in 2017”

RusAutoNews.Com – According to the prediction published by Frost & Sullivan, 1.6 million new automobiles will be sold in Russia in 2015 (-36%). The company report states that factors such as: the geopolitical tension and the falling oil prices hinder the recovery process of the market. However, it’s expected that the consumers -whose purchase decisions are postponed at the moment- will restart buying in 2017, reviving the sales to an extent, to 1.8 million vehicles. 2021 market prediction is 2.8 million vehicles, on the other hand.

The report observes that the foreign manufacturers are at crossroads, having to decide whether to import products or manufacture in Russia. The companies, which invested in their Russian factories in order to increase localisation, seem to have more chances. Renault-Nissan alliance has the highest localisation rate in Russia currently, with 68%.