The world's largest market research resource, the Research and Markets have decided to provide with the “Growth Opportunities in Russian Automobile Industry” report along with other updates. The report travels the whole journey of ups and downs in the auto industry and its effects and the changes it bring in the strategies and mindsets of the auto maker companies.
It has dealt with the pros and cons (basically cons) of the economic recession of 2008, the after ill- effect of which was not about to fade away in a short span of time. At that time, the Automobile market was the most severely hit by the catastrophe' and the wounds were quite deep to be cured. Before 2008, the year of haunting and wailings, the automobile industry in Russia adopted great pace of development and moreover marked such a niche' for itself that it transformed into the first choice of global automobile manufacturers.
The mood and the mode of performance were so ecstatic that foreign carmakers expected a three-fold ascend in productions during the year 2010. But blessing turned a blind eye soon after the makers expected hey days. The industry was ambushed by the economic crises in 2008; however the country still has an image of being an important market for foreign Original Equipment Manufacturer (OEM) and Original Equipment Supplier (OES) business.
It is important to note that the pace with which the industry was moving ahead is gradually coming back on track. If the figures are to be considered, it conveys that from May, 2010 to May, 2011, the total automobile sales of the country has increased by 48 per cent. The three top domestic automobile players are AvtoVAZ, GAZ and KAMAZ. The first two are involved in the production of light weight automobiles while KAMAZ deals with the heavy vehicle productions such as trucks. The companies which are mentioned in the reports include AvtoVAZ, GAZ, Kamaz, General Motors, Renault and Hyundai Motors.
