Executive Outlook of Developments in the Russian Automotive Industry

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Nov 12, 2014, 12:09 ET

DUBLIN, Nov. 12, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Executive Outlook of Developments in the Russian Automotive Industry" report to their offering.

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Consumers are Expected to Focus on Fuel Efficiency and Smaller Vehicles as They Continue Switching to Subcompacts

The objective of this research service is to understand the Russian automotive market and develop a market forecast. The study examines changing consumer preferences as the country navigates through political crises and an economic slowdown. A new government policy may help to ignite domestic vehicle sales. The Russian market is compared with those of the G3 countries-the United Kingdom, France, and Germany-including consumer research about specific preferences. The study period is from 2010 to 2020, with a base year of 2013 and a forecast period of 2014 to 2020.

Key Findings:

Political crisis and sanctions are the decisive factors, but the government is supporting the local automotive industry by introducing subsidies and a scrappage scheme, and allowing customs duty exemptions for original equipment manufacturers (OEMs) that match localization criteria.
The slumping market may recover by 2016.
Sales volume is projected to cross 3 million units by 2020.
Russian consumers will continue buying more subcompact cars and crossover vehicles, similar to consumers in other European countries.
Russian consumers put higher importance on features related to powertrain and ride quality than those in the G3 countries of the United Kingdom, France, and Germany.
Russia will be a top automotive telematics market in Europe.
Low vehicle density and aged vehicle parc will continue driving the market.
The new scrappage scheme will be a top driver for subcompact passenger vehicle sales in the short term.