Automakers reeling from the collapsed U.S. truck market can now take heart: the Russians are coming.
Russians are swarming for the chance to own a big SUV, The Wall Street Journal reports. Waitlists for some vehicles, including the Toyota Land Cruiser, are as long as two years as automakers try to keep up with demand. The biggest reason is oil; it remains plentiful and cheap in Russia, and the country’s economy has enjoyed a huge boost from exports as prices have risen elsewhere. Russians are also finding plenty of uses for big trucks – many roads there are brutal on smaller vehicles, and apparently, it snows a lot.
Auto sales in Russia increased 40 percent overall in the first six months of 2008 and are on track to eclipse those in Germany –currently Europe’s largest market – this year or the next.
Source: Wall Street Journal