MOSCOW Dec 5 Germany's Volkswagen
expects Russian auto sales to grow by 12 percent to 2.75 million
cars in 2012, the CEO of the carmaker's Russian unit, Marcus
Osegowitsch, said on Wednesday.
Volkswagen has said that Russia is its primary strategic
growth market in Europe and by 2018 it aims to sell half a
million vehicles in the country annually. It aims to increase
its sales in Russia by 38 percent this year, to 315,000 cars.
The carmaker is also aiming to invest a total of one billion
euros ($1.25 billion) in Russia by 2018, initially expanding by
building an engine plant in Kaluga.
The Association of European Businesses (AEB) has forecast
market sales of 2.85 million cars and light commercial vehicles
(Reporting By Gleb Stolyarov; Writing by Megan Davies; Editing
by Douglas Busvine)