The Economy

Russia Will Be Europe's Biggest Car Market in 2008

July 10, 2008

First six months of 2008 1.645 million cars were sold in Russia.

Russia could overtake Germany this year to become Europe's largest car market, accounting firm PricewaterhouseCoopers (PWC) said in a study released on July 9. "Russia may become the largest market in Europe by as early as 2008" if current trends continue.

In the first six months of 2008, 1.645 million cars were sold in Russia compared to 1.63 million in Germany.

International manufacturers including Ford, Renault and Toyota have flocked to Russia in recent years as the car market has boomed. Foreign models now outsell Russian-made cars.

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