Filed under: Trends, Euro, Earnings/Financials
Russia now Europe's biggest automotive market
Russia has just passed Germany as Europe's largest market for new car sales -- for the first half of the year, at least. In fact, Russian consumers managed to snatch up 41% more cars for the first half of this year as compared to the previous year. Not only that, but the vehicles being sold in Russia are more profitable than before as well, with the record $33.8 billion in sales so far an increase of 64%. Top marques are General Motors and Hyundai, which replace last year's first and second place finishers, Ford and Toyota. Russian brands? Not so much.Don't expect the sales figures to cool down any time soon, as the economy in Russia is still booming and it's the middle-class that is seeing the biggest benefit. Older cars will continue to be taken off the road as consumers purchase new replacements which will allow automakers to find an estimated 20-percent of the entire industry's growth in the Russian market over the next several years.
[Source: Inside Line]
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Reader Comments (Page 1 of 2)
Joe K. 6:13PM (7/14/2008)
...Even though its primarily in Asia...
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Temple 9:16PM (7/14/2008)
technically speaking, Europe and Asia are actually one continent, the land-mass usually termed Eurasia. The division of the landmass of Eurasia into the continents of Asia and Europe is an anomaly, as no sea separates them. The divisions are purely historical and cultural, to Europeans in the past everything past Turkey has considered another world, totally foreign, and termed the "Orient". Russia is considered European by their cultural heritage.
Joe K. 11:07PM (7/14/2008)
My mistake, I didn't realize you read culture on a map... Geographically, the divide is the southern waterways and the Ural mountains (thank the Greeks for that one) and Russia is mostly on the other side. The article didn't talk about being the largest seller on the Eurasian Tectonic Plate, they said Europe's largest market, which according to this is ironically not in Europe.
CarlosMC 9:05AM (7/15/2008)
But, unlike Turkey, most of it's population is in the western (european) part. And their culture is european, too, so...
Joe K. 9:48AM (7/15/2008)
How European are they? I mean really? They side more often with enemies of the West. They have always engaged in active subversive programs against the West. They participated in active isolation of their citizens for nearly 7 decades. They're not European.
JS 10:07AM (7/16/2008)
americans dont know geography, most think that north america and south america are 2 separate countries
CarlosMC 2:00PM (7/15/2008)
My God!! They are ALIENS!!!! AAAAAAAAAAAAAAAaaahh..... .
Dude, chill out!
Others thinks worst of yourselves!
(Peace)
Joe K. 2:15PM (7/16/2008)
@JS...
What does that have to do with the prices of eggs in China?
First off, I doubt that the statement of "Most Americans" thinking the two continents are two countries is true. Blanket stereotypes like that rarely are.
Just because some are stupid doesn't mean all are, plus there are stupid people everywhere. I mean just because I know a few Europeans that don't shower doesn't mean most Europeans do not shower.
Geographically speaking most of Russia is in Asia, hence my initial comment of "primarily in Asia" not "all in Asia."
mazz 6:35PM (7/14/2008)
russia is not part of europe
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AkulaX1 11:31PM (7/14/2008)
I try to explain that to everyone but everyone is too dumbed down. +10000
baffledu2 6:41PM (7/14/2008)
If America would quit funding all that growth through oil and nat gas purchases Russia would be the back water of Europe.
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Swede 6:49PM (7/14/2008)
Actually Russia makes up for 40% of Europe.
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Swede 6:51PM (7/14/2008)
I really wish we could edit our posts.
Russia makes up 40% of the total area of Europe. Thats what it was going to say.
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PFK 6:56PM (7/14/2008)
This is a highly contentious issue. Geographically, the vast majority of Russia is in Asia but Moscow is located in what is otherwise known as European Russia.
According to Wikipedia roughly 78% of the entire Russian population lives in Europe. However, 75% of Russia's territory lies within Asia and accommodates only 22% of its population.
On a personal level, I don't consider it to be European but then neither is Turkey (it's too far south) but that hasn't stopped them from bidding for EU membership.
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CarlosMC 9:16AM (7/15/2008)
It's "too far south"???
For a moment I though you were american or something, but try this: Scotland isn't European, it's too far north!
Maybe you meant too far east!?
:)
PFK 9:44AM (7/15/2008)
No CarlosMC, I’m British (and therefore European) but more to the point, your comment does not make any sense. Scotland is considered to be part of Europe (geographically speaking). When I said Turkey is too far south I meant it in the geographical context and I based this assessment on the following observation:
http://en.wikipedia.org/wiki/Image:Map_of_Europe_(political).png
Caption - Europe according to a widely accepted definition: geographic Europe in green and cultural Europe in dark blue (Asian parts of European states in light blue).
Ergo, Turkey is south of geographic Europe (not east).
CarlosMC 1:02PM (7/15/2008)
PFK, I know you're british, and obviously, I know that Scotland is in Europe, it was an irony.
I was just refering to your comment putting Turkey "too far south" to be Europe: actually, Minor Asia is about the same latitude as Greece, southern Italy, Spain and Portugal. For me it's best defined as being east, maybe it should best be described as southeast!
;)
EVan 7:08PM (7/14/2008)
Where can someone view international sales stats?
It would be interesting to see which models are selling well in other contries.
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Mike Knaub 7:51PM (7/14/2008)
Russia is part of Europe only politically. Geographically it is all in Asia. Turkey is the only country that is in straddles two continents.
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Dazza 10:24PM (7/14/2008)
One-quarter of Russia's geographical area is in Europe (west of the Ural mountains) and most of its population is within that one quarter.
It's internationally known that Americans are appalling at geography, but good lord!!