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 in 2012. (Reporting By Gleb Stolyarov; Writing by Megan Davies; Editing by Douglas Busvine)