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Russian government wants domestic automakers to set up luxury brand


Russian carmakers are considering the federal government's desire for a domestic luxury brand to challenge the dominance of Western premium brands. However, the proposal was not received enthusiastically by Russian carmakers, as setting up a brand to compete with BMW, Mercedes-Benz and Audi is very difficult. Industry and trade minister Denis Manturov said he wants automakers to build luxury cars that ...
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More russian auto industry articles

Russia’s slowing sales may affect Renault’s recovery in Europe
Renault's plan to fix Europe sales may be undermined by slowing growth in Russia. The Russian car market is expected to slow and possibly decline this year, after three years of ...
First Chevrolet Aveo sedan assembled in Russia’s GAZ plant
General Motors and GAZ Group today started production of the Chevrolet Aveo sedan at GAZ’s manufacturing facility in Nizhny Novgorod, Russia. In February 2011, GM and GAZ Group signed an agreement ...
AvtoVAZ recalling 45,000 Lada Grantas over airbag failure
AvtoVAZ, Russia's largest carmaker, announced on Thursday it is recalling 45,348 Lada Grantas over potential airbag failures. It is AvtoVAZ' second recall of new models this year. The cars affected by ...
Russian official: Fiat’s planned Sankt Petersburg plant put on hold
Fiat may postpone the construction of a plant in Sankt Petersburg, Russia, because of overcapacity in Europe, a Russian official said. The Italian carmaker planned to invest 850 million euros to ...
Sollers reports H1 net income three times higher than in 2011
Russian automaker Sollers posted a net income of 2.6 billion roubles ($82.06 million) in the first six months of this year. The figure is nearly three times higher that the net ...
Russia is slowly becoming “the new China” for General Motors
General Motors has been enjoying steady sales growth in emerging markets, especially in countries such as Russia. In the first six months of this year, growth in these countries compensated the ...
Chrysler to finalize planning for Jeep plant in Russia
Chrysler Group wants to complete plans in the first half of 2012 to manufacture Jeep SUVs in Russia, according to Jeep's brand chief. “Finalizing the solution on how to build Jeep ...
General Motors expects solid growth in Russia in 2012
General Motors is approaching several different Russian automakers for collaborations in order to boost its presence in the fast-growing market. According to the InsideLine.com, GM plans to introduce new models in ...
Renault Nissan may take controlling stake in AvtoVAZ in March
Renault SA and Nissan Motor Company are on the verge of signing an agreement to take control of Russia's largest automaker AvtoVAZ in March. According to AvtoVAZ CEO Igor Komarov, the ...

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