The Russian Automotive Industry: A case of delayed but sure recovery

An in depth look at the market and forecasts for its long-term future

After witnessing one of the sharpest declines in 2009, the automotive industry in Russia is finally returning to growth. In the first nine months of the 2010, sales of passenger cars and light commercial vehicles (LCVs) in the country have registered an 18% increase to 1.32 million units over the 1.15 million units during same period a year ago. Although the automotive market in Russia has been late in recovery compared with those in many other countries, the worst seems to be over and it looks to be on another growth trajectory.