TOGLIATTI, March 30 (RIA Novosti) - Russia's car
market may shrink 60% in 2009 year-on-year due to declining
demand caused by the economic slump, Industry and Trade
Minister Viktor Khristenko said on Monday.
Speaking in Togliatti, the home of auto giant AvtoVAZ, at
a meeting on measures to stabilize the situation in the Russian
car industry, Khristenko said that the car market as a whole
reflected the population's purchasing power.
Khristenko said that only state purchases would keep the
auto market from suffering a further decline.
The minister also said however that the government
expected the increasing amount of foreign models being produced
in the country to lead to a rise in the share of total sales of
Russia-made cars on the domestic market.
"We expect a substantial redistribution of the market in
the first half and throughout the year in favor of cars
produced in Russia. Many leading foreign concerns have made a
decision to expand the range of models produced in Russia,"
Khristenko said.
The minister also noted that some foreign car makers were
even considering projects to build new production facilities in
Russia.
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