Allpar Forums banner

1 - 2 of 2 Posts

·
Registered
Joined
·
822 Posts
Discussion Starter #1
In the Press today:

Italy's Fiat SpA (F.MI) is considering having vehicles made at a factory run by Taganrog Automobile Plant, or TagAZ, in southwestern Russia near the border with Ukraine, according to Russian news agency Interfax Friday.
Citing a TagAZ official at a hearing in a court of arbitration, Interfax reported that Fiat's U.S. unit Chrysler Group LLC could have the Grand Cherokee made for its Jeep brand at the factory.
Fiat had yet to take a final decision, it added.
Both Fiat and Chrysler declined to comment on the report. And officials at TagAZ couldn't be immediately reached for comment.
Fiat agreed last year to form a partnership with Russian state bank OAO Serbank (SBER.RS) to build Jeep vehicles in the country. Their first plant is to be set up in the St. Petersburg area.
Russia is a vital market because it promises to become the biggest in Europe, offering far higher growth rates than the region, several of whose countries like Italy have registered a collapse in sales because of the sovereign debt crisis and the subsequent recession.
In 2013, new vehicles sales in Russia are expected to grow by 5% to 3.1 million units, according to the International Organization of Motor Vehicle Manufacturers, or OICA.
This forecast compares with an expected 2% decline for Germany and a 5% fall for France.
Other European automakers have also entered into partnerships with local producers. France's PSA Peugeot-Citroen SA (UG.FR), for instance, is in talks with truck maker Zavod Imeni Likhachova, or ZIL, to assemble vehicles.


Read more: http://www.foxbusiness.com/news/2013/03/15/fiat-considers-russia-tagaz-to-build-vehicles-report/#ixzz2NeoTZY5m
 

·
Plymouth Makes It
Joined
·
8,107 Posts
Russian people need jobs so the Russians plan to open factories to make stuff for their people. Where it will go in 20 years is anyones guess.
 
1 - 2 of 2 Posts
Top