Russia, now thought of as one of the primary
global growth markets for
car sales, has three major
vehicle groups competing for a stake in and production
partnership with the
Lada manufacturer AvtoVaz.
Fiat of
Italy,
Peugeot of
France and
General Motors Corporation of America have all levied bids to
be involved in the
future of the Russian car manufacturer. The chief executive
of Fiat, Sergio Marchionne, reportedly commented: This is
a
company that needs bringing back to
health, so what would be needed from Fiat should not to be
underestimated and goes beyond the
investment it would need. It would be a big step forward. We
are looking at it, then we'll see.
Avtovaz are keeping quiet about the future of the company, amidst
rumours of intensifying talks and fierce competition to have a
share in the business.
Russia had car sales of around 2.5 million in 2007, and is
expected to overtake France, the UK and
Germany swiftly in the European
car trade .
