The Russian car market will grow significantly during the next several years, Martin Winterkorn, Chairman of the Board with one of Europe’s leading carmakers Volkswagen AG, said on Sunday.
According to the forecasts, the Russian car market will grow by over 60 percent by 2015. German car producers believe in Russia and work actively in that country, Winterkorn said.
He added that Germany had always considered Russia as the largest target market. Currently the annual Russian-German trade turnover is about 58 billion euros and will continue growing, Winterkorn said.
In 2010 the output of Volkswagen’s plant located in the city of Kaluga amounted to about 95,000 cars, while the plant’s staff currently exceeds 5,000 people.
Volkswagen Group, with headquarters in Wolfsburg, is one of the leading European carmakers. The group is made up of several brands including Volkswagen, Audi, SEAT, Skoda, Volkswagen Commercial Vehicles, Scania, and luxury brands Bentley, Bugatti and Lamborghini.