MOSCOW -- Russia's fast-growing car market expanded 66 percent year-on-year in May to $6 billion, research by Ernst & Young showed.
Russian car sales rose 48 percent in unit terms in May, the Association of European Businesses said last week.
The Russian market is close to returning to pre-crisis levels and is expected to double in size by mid-decade to 4 million units a year.
Russian car sales are forecast to total 2.35 million in 2011, according to the Moscow-based Association of European Businesses, up from 1.97 million last year.
Western automakers are boosting production in the country.
Last week, Ford Motor Co. unveiled plans to nearly treble its production capacity in Russia with local partner Sollers to 350,000 vehicles a year by 2014.
Volkswagen and General Motors have both done deals with Russia's GAZ Group and Renault is strenghtening its partnership with AvtoVaz, Russia's biggest car company.
Sources: Reuters and Bloomberg