$ 5 Billion invested in Russia by the auto Industry

 Foreign Auto manufacturers are investing over $5 billion dollars in the Russian automobile Industry. Russian Car sales for 2011 were up by 72%. The Largest investor in the Russian Auto Industry is Italian giant manufacturer Fiat investing over $1.1 billion which Fiat plans to invest in the expansion of a local automotive factory and the creation of a factory to produce the engines. US company General Motors are investing about $1 billion to expand and modernize its Russian facilities, and Germany manufacture Volkswagen will invest in Russia $900 million.

The top 10 selling Cars (Brands) in Russia by order are : Number 1 LADA, KIA, RENAULT, CHEVROLET, NISSAN, TOYOTA, HYUNDAI, DAEWOO, VOLKSWAGEN and GAZ

With the European Auto market flat Europe Car manufacturers have made great efforts to develop business in Russia. The Russian government has promised to reduce import duties on Auto components for 8 years in exchange for a commitment from the auto manufacturers to build at least 300 000 cars a year per production by 2015.