Luxury vehicles in Russia

The numbers of households who can afford to buy luxury goods are expected to grow to 13 million by 2025 from Seven million in 2010. Luxury carmakers are converging in Russia to take advantage of the new breed of millionaires. Car makers believe that Russia offers the most growth potential for luxury vehicles. Those who are expanding their presence in Russia include Volkswagen’s Porsche unit, BMW, Volvo, Renault and Nissan Motor. Russia expects to sell 3.4 million vehicles by 2014 and its sales of luxury vehicles are rising. As a result, Russia’s own brand, Lada, who is making only economy vehicles see its own share of the market decreasing.

Over the next six years, Porsche is hoping to double the current dealerships to 36. Audi expects to deliver 30,000 vehicles this year. That is almost double the number of vehicles delivered to Russia in 2009. The BMW will have 20 sales points by 2018. Renault, the No. 2 brand in Russia is joining forces with Nissan Motors to grab 40 percent of the vehicle market share by 2015. Nissan already assembles its Murano SUV and recently added Infinity FX SUV to its factory in St. Petersburg, Russia. The BMW’s Rolls-Royce has two dealerships in Russia’s capital Moscow.

Comments are closed.