Car Manufacturers in Russia Enjoy Robust Growth
Automotive manufacturers in Russia are enjoying a large rebound, with production volume almost tripling between 2009 and 2011. The main driver of this huge growth is the domestic market, and despite Russian joining the World Trade Organization in 2012, the country is protecting its domestic manufacturers by passing a “recycling tax” for imported vehicles. Local automobiles are exempt from the tax, which encourages the purchase of domestic cars. Euromonitor expects growth in the Russian automotive industry growth to continue well into 2017.
Watch on Youtube