https://en.sputniknews.africa/20230504/africa-is-growing--attractive-market-russian-automobile-company-director-says-1059038406.html
Africa is Growing & Attractive Market, Russian Automobile Company Director Says
Africa is Growing & Attractive Market, Russian Automobile Company Director Says
Sputnik Africa
Africa is a growing and attractive market, Sergey Ilyinsky, Director of Public Relations at AVTOVAZ, told Sputnik, while rederring to the company's plans in Africa.
2023-05-04T20:04+0200
2023-05-04T20:04+0200
2023-08-03T10:48+0200
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For 27 years, AUTOEXPO Africa has been playing the role of a platform that gathers global manufacturers and exporters so that they can enter the continent’s market. The 24th Africa AUTOEXPO will take place in the Kenyan capital Nairobi on May 4, 5, and 6.According to a World Economic Forum (WEF) report, the continent's automotive industry is expected to grow by nearly 40% by 2027. Much of this growth is said to possibly be achieved by local companies within the newly established African Continental Free Trade Area.Studies show that the automotive spare parts market has become an appealing sector for global exporters, as Africa has seen a significant 30% increase in imports.In this regard, some Russian automotive companies are showing interest in this promising market. According to Sergey Ilyinsky, director of public relations at the firm AvtoVAZ, Africa is a growing and attractive market.In early December 2022, Maxim Sokolov, the company's president, told reporters on the sidelines of the Russian Industrialist forum and exhibition that AvtoVAZ was considering Africa as one of the new markets for the supply of Lada cars.AvtoVAZ is a Russian state-owned automobile manufacturing company, which has existed since 1966 and is known for its popular series of cars released under the Lada brand.
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automotive industry, russia-africa relations, africa-russia relations, public relations, attractive growing market, attractive market, growing market, export strategy, sub-saharan africa, african continent, bilateral cooperation, mutually beneficial
automotive industry, russia-africa relations, africa-russia relations, public relations, attractive growing market, attractive market, growing market, export strategy, sub-saharan africa, african continent, bilateral cooperation, mutually beneficial
Africa is Growing & Attractive Market, Russian Automobile Company Director Says
20:04 04.05.2023 (Updated: 10:48 03.08.2023) On May 4-6, the AUTOEXPO international exhibition and conference of the automotive industry Africa takes place in Nairobi, Kenya. According to experts, the automotive industry of the continent may grow by almost 40% by 2027.
For 27 years, AUTOEXPO Africa has been playing the role of a platform that gathers global manufacturers and exporters so that they can enter the continent’s market. The 24th Africa AUTOEXPO will take place in the Kenyan capital Nairobi on May 4, 5, and 6.
According to a World Economic Forum (WEF) report, the continent's automotive industry is expected to grow by nearly 40% by 2027. Much of this growth is said to possibly be achieved by local companies within the newly established African Continental Free Trade Area.
Studies show that the automotive spare parts market has become an appealing sector for global exporters, as Africa has seen a significant 30% increase in imports.
In this regard, some Russian automotive companies are showing interest in this promising market. According to Sergey Ilyinsky, director of public relations at the firm AvtoVAZ, Africa is a growing and attractive market.
"We certainly see Africa as an attractive growing market where we would like to promote our brand [AvtoVAZ]. The first steps in this direction were made quite a long time ago – we have an assembly facility in Egypt. We plan to gradually develop our brand on the continent. It's too early to talk about the details, but we are forming an export strategy for sub-Saharan Africa."
In early December 2022, Maxim Sokolov, the company's president, told reporters on the sidelines of the Russian Industrialist forum and exhibition that AvtoVAZ
was considering Africa as one of the new markets for the supply of Lada cars.
"Of course, we are looking at new markets, first of all, the African continent," he stated.
AvtoVAZ is a Russian state-owned automobile manufacturing company, which has existed since 1966 and is known for its popular series of cars released under the Lada brand.
