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Kia Says Russian Car Market Could Jump 12%
Deliveries of new cars and light commercial vehicles in Russia could reach 1.60 million units this year from 1.43 million in 2016, according to the head of Kia Motors Corp. operations in the country.
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Deliveries of new cars and light commercial vehicles in Russia could reach 1.60 million units this year from 1.43 million in 2016, according to the head of Kia Motors Corp. operations in the country.
Alexander Moynov tells a Reuters-sponsored conference that a reviving economy has prompted Kia to double its sales growth forecast for the market. He expects sales in 2018 will reach 1.8 million units.
Sales in Russia peaked at 2.94 million in 2012 before beginning a precipitous four-year decline. The Moscow-based Assn. of European Businesses, which tracks the Russian market, predicted in January that sales would rise to 1.48 million this year.
Moynov says the group is expected in October to raise its full-year forecast to 1.57 million units.
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