NEWS & EVENTS: Breaking News
08.04.2005 15:19
In consumer news, Korean automaker Daewoo has again become a leader on the Russian market of foreign cars, which had already been discounted by its rivals. According to RBC Daily, sales of Uzbekistan-assembled Nexia vehicles and Matiz cars considerably overshot marketing volumes of more advanced models of Hyundai, Mitsubishi and Toyota. During the January-February period over 15,000 Daewoo cars were sold in Russia, i.e. up 150% on the same period last year. Thus, Daewoo beat out Hyundai, the 2004 leader in car sales, while the latter ranked second in the first two months of 2005. Experts believe that Daewoo vehicles are currently squeezing off the market not foreign auto producers, but AvtoVAZ models which have recently gained in value. AvtoVAZ’s 2110 Ladas are priced nearly at the same level as Korean Nexias. Despite their reputation as obsolete cars, Daewoo Nexia sedans are characterized by high quality assembly, a spokesperson of car trading group Rolf Valery Tarakanov told Vedomosti.
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