Renault expects the Russian automobile market to reach 2 million vehicles in 2020

Renault expects the Russian automobile market to reach 2 million vehicles in 2020

TASS – Car sales in Russia will amount to 1.6 million units in 2017 and to 2 million in 2020. The forecast has been published in Los Echos newspaper on Tuesday, citing the representatives of Renault.

According to the publication, the Russian automobile market has started recovering from the shrinkage experienced last year. The 2012 sales figure of 2.9 million vehicles has plummeted to 1.4 million in 2016. “The directors of Renault expect the volume of the automobile market to reach 1.6 million units by the end of this year and hit the 2 million mark in 2020” – as written in Los Echos, quoting TASS. 

LADA sales have grown by 9.8% within the first eight months of 2017, according to Los Echos. The newspaper draws attention to two models with new corporate designs: LADA Vesta and LADA XRAY, as the main contributors to sales figures. These models have created their own customer bases. Both models are amongst the best-sold 10 models in Russia and form half of LADA sales, as stated by Los Echos. 

According to the newspaper, the share of LADA in the Russian market was 29% in 2010 and fell to 16.4% in 2014. The share has reached 19.7% this year, despite competition from Hyundai and KIA. “We aim to reach 20% market share and hold on to that level” – says the AVTOVAZ Executive Vice-President of Sales and Marketing: Jan Ptacek, as quoted by the newspaper.