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9 Jul, 2008 08:55

Russia's car market becomes Europe's biggest

Russia's car market becomes Europe's biggest

Russia overtook Germany to become Europe’s top car market in the first half of this year according to a report by PricewaterhouseCoopers.

Russia’s auto market grew 64% to almost 34 BILLION dollars in the first half of the year.

The highest profit growth was in foreign cars assembled in Russia.

Previously, executives from Renault and Ford had predicted Russia would take another year or two to become the largest market in Europe.

And analysts forecast even more growth in Russian car sales in the next few years.