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Russian Automotive Growth in Top Five Worldwide
Jun 06, 2006
Having sold about 1.45 million cars in 2005, Russia ranks among the top ten sellers in the world. Just as Russia’s present car market is impressive so is its future growth. Russia stands fourth worldwide. As incomes among Russian population grow resulting in a high demand for replacement vehicles, the Russian car market becomes sounder.
Russian carmakers have a high level of vertical integration. This has been a hurdle for the development of a modern supplier market making it difficult to withstand the international competition. But with respect to exports, Russia can become a significant member in the world automotive sector. While the growth prospective in various parts of the world is low, Russia offers good opportunities, which the automotive and supplier industry should quickly grab.
RNCOS has published a report namely “Russian Automotive Industry Forecast (2006-2011)” which answers a checklist for potential investors in Russian automotive market.
- Quality assurance through own management in case of joint ventures.
- Industrial leadership and independence of local partner.
- List of potential local partners and framework of conditions prior to signing agreements.
The research report gives insights into certain facts to enable decision-making –
- There would be six-fold increase in the production of foreign OEMs over the next ten years.
- There may be an annual growth rate of 22% in OEMs.
There is immense growth potential for international suppliers to Russia’s automotive sector. RNCOS has made an intensive market study to forecast that the share of work outsourced by Russian OEMs will rise to 45% in 2010 compared to 24% in 2004. The same period will have a three-fold increase to 39% in the locally made components in foreign vehicles. This upswing is essentially because the Russian OEMs are keen to purchase components from international suppliers who have greater environmental and safety standards.
The report also discusses about the world automotive industry much beneficial to the investors and industry players.
The market research report covers a Forecast and Analysis section, which provides the market sizing in detail along with a three-year forecast of the Russian automobile market divided into two parts – technology and feature.
For more information visit: http://www.rncos.com/Report/IM036.htm
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