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. Last Updated: 07/27/2016

Car Sales Up 10%

Sales of new cars grew 10 percent year on year in September, the Association of European Businesses said Monday, after an increase of 15 percent the previous month.

The association said 259,582 units were sold in September and 2.19 million in the first nine months of 2012, up 14 percent year on year.

The association expects that 2.8 million cars will be sold in the country during 2012, up about 7.5 percent from the previous year.

Western carmakers, including General Motors, Ford, Renault and Fiat, are investing heavily in Russia to take advantage of a market that is expected to overtake Germany sometime this decade and become Europe's biggest.

Meanwhile, Toyota's Russian division said output of Toyota Camry cars rose 62 percent year on year in the January-to-September period, Interfax reported.

(Reuters, MT)