Skip to: Content
Skip to: Site Navigation
Skip to: Search

August 29, 2008 12:49:20 CDT

Learn about Newser Points »

« Back to the grid | Next story »

VW Opens Russian Factory

Posted Nov 29, 07 5:51 CST in World,  Business 

(Newser) – Volkswagen is attempting to break in to the Russian auto market by opening a major factory in the town of Kaluga, 100 miles southwest of Moscow. They are not alone: Der Speigel reports that Volvo and Renault already produce cars there, and GM, Ford and BMW have all grabbed substantial pieces of the Russian auto market.

VW will be rolling out a line designed to compete with the Lada, Russia’s über-cheap, top-selling car. Western companies are betting on an expansion of the Russian consumer base—only 20% of the population owns cars, compared to 50% in Germany. There were 2.25 million cars sold there last year; that number is expected to hit 3 million by 2015.

Source Der Spiegel

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Germany Is Crux of Russia Talks

    Aug 25, 08 10:05 AM CDT
    Germany Is Crux of Russia Talks A fretful Eastern Europe is hoping Germany can play a key diplomatic role in its stare-down with Russia, the New York Times reports. Until recently, relations between Moscow and Berlin were too cozy for the Caucasus’ tastes, but East German-born Angela Merkel has distanced herself from Russia just enough to be a credible mediator, criticizing the country's leaders on democracy, press freedoms, and human rights. More »

  • Eyeing US Market, VW Plans Tenn. Plant

    Jul 16, 08 8:42 AM CDT
    Eyeing US Market, VW Plans Tenn. Plant Volkswagen will invest around $1.6 billion to build a factory in the US—20 years after the closure of its last plant, Der Spiegel reports. VW hopes to have the plant, located in Chattanooga, Tenn., running by 2011, and operating at a rate of 150,000 cars per year. The company ambitiously hopes to increase US sales to 800,000 by 2018. More »

  • Spain Pummels Russia to Reach European Final

    Jun 26, 08 4:25 CDT
    Spain Pummels Russia to Reach European Final Spain scored three second-half goals today to beat Russia 3-0 and reach the European Championship final, giving the team a chance to shed its status as one of soccer's biggest underachievers. Xavi Hernandez, Dani Guiza and David Silva each scored to give the Spaniards a shot at their second European title when they play Germany in Vienna, Austria. More »

  • Leaders Press for Berlin Cold War Museum

    Jun 18, 08 3:21 AM CDT
    Leaders Press for Berlin Cold War Museum Berlin would finally get a museum dedicated to the Cold War if a group of high-profile politicians get their way. Led by former Czech President Vaclav Havel, the group is urging Germany to build the structure at Checkpoint Charlie, the infamous crossing point that connected the city when it was split by the Berlin Wall. More »

  • EU Will Toughen Car Ads to Curb Gas Guzzlers

    May 16, 08 2:22 CDT
    EU Will Toughen Car Ads to Curb Gas Guzzlers Car ads in Europe will soon have to highlight gas mileage and carbon dioxide emissions under regulations in the works from the European Union, Der Spiegel reports. EU commissioners hope regulating ads will motivate more Europeans to ditch gas-guzzling models, but manufacturers and media execs aren’t happy. The plan could push some automakers to drop their advertising altogether. More »

Volkswagen is the latest addition to a dense and competitive automotive industry in Russia, many of them foreign companies.   (Getty Images)
A worker takes a VW-emblem for a Volkswagen Golf from a table in the Volkswagen factory in Wolfsburg, northern Germany, in this Feb. 15, 2007 file picture. (AP Photo/Kai-Uwe Knoth, File)   (Associated Press)
Martin Winterkorn, CEO of German Volkswagen AG, poses on the 62nd International Auto Show (IAA) in Frankfurt, Germany, Tuesday, Sept. 11, 2007. Volkswagen opened a massive factory today outside Moscow....   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 1)

Tags

Russia  • Germany  • auto industry  • Volkswagen


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »