Delhi, India (PressExposure) February 06, 2009 -- âBooming Russian Automobile Sectorâ, a new report from RNCOS, projects that the Russian automobile sector, a developing automobile market in Europe, will be able to reach the passenger car stock of over 300 per 1,000 people by 2013 only. This is due to the global financial crisis that will majorly limit the passenger car sales in 2009 and will continue to make strides in the market in coming few years as well.
The most drastic effect of the economic slowdown on the Russian passenger car market will be seen in the running year (2009). Other than tight lending conditions, passenger car sales are expected to drop sharply in 2009 due to increasing unemployment and changing consumer buying priorities. And once the passenger car ownership drops in 2009, it will take at least another three years to cross the 300 mark.
However, the sales are projected to bounce back in 2010. This is due to the fact that Russia, being a developing country, has a low passenger car ownership per 1,000 people and thus, it will be a favorite destination for auto makers despite bad economic conditions in Europe. Declined lending rates, high discount at dealersâ end and increasing import tax on old models will further help the industry to regain growth in 2010.
âBooming Russian Automobile Sectorâ is an exhaustive and analytical study on the automobile industry in Russia. It provides credible research and objective analysis supported by statistical facts and figures on parameters that depicts the structure of the Russian automobile sector. It provides information on market in terms of new vehicles and used vehicle as well.
The report highlights the past, present and future trends and evaluates the drivers, emerging trends, roadblocks and opportunities for the market. Based on the thorough analysis, the report forecasts automotive sales and future outlook of industry sub-segments.
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