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Market for new cars in Ukraine could expand by 20% in 2012
13 September 2011
Sales of new cars in Ukraine in 2012 could grow by at least 20% compared to 2011, to some 250,000 cars, according to Vice President of UkrAVTO Corporation Viacheslav Povroznik.

"I think that next year the growth will be at least 20% and the passenger car market will reach 250,000 cars," he told the press at the eighth Stolychne (Capital) Auto Show, which opened on Sept. 9.

He said that the market growth of 40% seen in January-August 2011 would continue until the end of the year, and in 2011 the market would reach 210,000-215,000 cars.

He said that the factors pushing the market growth are the development of infrastructure as a part of preparations for the Euro 2012 European football championship.

"There are preconditions – infrastructure is steadily developing, preparations for the Euro 2012 are underway and large investments are coming, medium and large business work is being done, airports are being opened – and all these factors expand consumer demand and the market will grow, maybe less than this year, but it will grow steadily," Povroznik said.

The UkrAVTO Corporation planned to sell 60,000 cars this year. Povroznik said that the summer period was very active and demand increased, so the corporation might exceed its sales target.

He said that market stabilization and concerns over the possible introduction of import duties as part of an investigation into imports of cars had promoted the rise in demand.

Povroznik said that car purchase financing had started operating more actively.

"Many instruments have become available – a zero down payment and credits. It's apparent that the banks have started fighting for buyers. We can only be happy to see the stabilization of demand," he said.

Source: KyivPost

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