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GENERAL NEWS
Russia to be Europe's Biggest Market by 2020?
Russia's auto market is on track to overtake Germany and become the largest in
Europe—and the fifth biggest globally—by 2020 as car ownership increases, a Boston Consulting
Group report said. Western carmakers including GM, VW, Ford, and Renault have invested heavily in
Russia, betting that the market will grow as a rising middle class becomes first time car owners or
upgrades aging models.
The report predicts that Russia can follow Brazil and China in transforming itself from a market
targeted by foreign exporters, to one with a dominant share of locally-produced vehicles.
BCG forecasts that Russia's auto market will grow by an average annual rate of 6% through 2020,
when it will reach annual sales volume of 4.4 million.
That would make it the fifth largest in the world by sales, after China, the United States, India and
Brazil, the report said.
There are only 290 cars per 1,000 Russians versus 560 in Western Europe and many of those
vehicles are old, while a decade of strong growth driven by Russia's mineral wealth is slowly
empowering a greater chunk of its population.
BCG's forecast for Russia is a bullish prognosis compared with recent figures from the Association of
European Business (AEB), which tracks the Russian car market.
1.5m Audi Sales Aim Met—2 Years Early: CEO Stadler
Audi CEO Rupert Stadler says the automaker will reach their sales target of 1.5 million cars in 2013,
two years earlier than planned.
Helped by strong deliveries in China and the United States, Audi increased
half-year sales by 6% to more than 780,000 units, narrowing the gap with luxury market leader
BMW to 24,000 from 85,000 at the end of last year.
''We have overtaken Mercedes-Benz and we are now closer to BMW than ever before,'' Stadler said
in an interview with Handelsblatt .
Audi aim to increase annual vehicle sales to 2 million and take the sales crown from BMW. Audi
passed Mercedes-Benz in 2011 as the world's No. 2 premium automaker. Last year, BMW brand sold
1.54 million vehicles, followed by Audi with 1.45 million. Mercedes brand sold 1.32 million vehicles.
BMW i3 Electric Will Cost €35K
BMW's new electric car, the i3, will cost €34,950 for the base model in Germany, the company have