icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Growing incomes fuel demand for cars

Growing incomes fuel demand for cars
If a decade ago owning a car was a luxury, today Russia is witnessing a car boom. In the first six months of this year, consumer purchasing power grew by 10 percent . People are spending their growing income on domestic and imported vehicles.

Manufacturers are struggling to keep up with rocketing demand for cars – up by 50% this year.

Those who want a popular car model may have to wait up to 8 months to get one. The Ford Focus Two is already manufactured in Russia, but demand is so high that even importing additional cars is not enough.

Ford plans to double sales in Russia to reach 120 thousand. The company’s sales in the first half of 2006 were twice as high as the same period last year

Banks provide a variety of solutions for those who cannot afford to buy a car outright. This is also helping to keep consumer markets on the boil.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts