Russia 7th Largest Car Market in 2011 image

According to Russia’s Autostat analytic agency, in 2011 Russia was the world’s 7th leading auto market with 2.81 million new cars sold.

In 2011 auto sales reached a total of 2.81 million units, out of which 2.48 million passenger cars and 330,000 commercial vehicles, which means 3.6% share of the total of 78 million cars sold worldwide last year. Russia has a 40% year-on-year sales growth and the world’s fastest sales increase.

China got the first place, for the third consecutive year, with 18.5 million new car sales, 23.7 share of the global market. The U.S. came on the second place with over 13 million sold cars, followed by Japan with 4.21 million.

Russian passenger car market hit a historic high in 2008, with over 2.7 million units sold. But sales were severely affected by the financial crisis that brought the sales number to half. The market quickly recovered and so in 2010 Russia sold 1.8 million and 2.8 million in 2011. Experts predict that sales will return to the pre-crisis level in 2014, with sales up 3% annually. The increase will be possible due to the fact that the Russian household income is rising strongly, by 2015 reaching over $15,000 a year.