VW sees rapid Russia sales rise in 2012
MOSCOW (Reuters) -- Sales of Volkswagen brand cars in Russia rose 40 percent year-on-year in 2012 to 164,702 vehicles, the company said.
The Volkswagen Group, which also includes Skoda, Audi and Seat, reported this week that its total sales in Russia increased 39 percent to 317,700 vehicles. In December, the automaker said it was aiming for a 38 percent rise in Russian sales for 2012 to reach 315,000 units.
The German carmaker plans to invest a total of 1 billion euros ($1.3 billion) in Russia by 2018, initially expanding by building an engine plant in Kaluga, which is about 150km southwest of Moscow. VW already has a car production factory in Kaluga.
Russia is expected to overtake Germany to become Europe's largest car market as early as 2016. VW Group reported earlier this week that strong growth in Asia and North America helped push its worldwide sales to 5.74 million units, an increase of 13 percent from 2011.Contact Automotive News