US automakers bet billions on Russian car boom
<p> <span word="Russian">Russian</span>-<span word="made">made</span> <span word="cars">cars</span> <span word="used">used</span> <span word="to">to</span> <span word="conjure">conjure</span> <span word="up">up</span> <span word="images">images</span> <span word="of">of</span> <span word="boxy">boxy</span>, <span word="broken">broken</span> <span word="down">down</span> <span word="Ladas">Ladas</span>. <span word="Now">Now</span> <span word="car">car</span> <span word="sales">sales</span> <span word="are">are</span> <span word="jumping">jumping</span> <span word="and">and</span> <span word="foreign">foreign</span> <span word="car">car</span> <span word="makers">makers</span> <span word="are">are</span> <span word="investing">investing</span> <span word="billions">billions</span>.</p><p><span word="This">This</span> <span word="week">week</span>, <span word="Moscow">Moscow</span>’<span word="s">s</span> <span word="International">International</span> <span word="Motor">Motor</span> <span word="Show">Show</span> <span word="is">is</span> <span word="supplying">supplying</span> <span word="plenty">plenty</span> <span word="of">of</span> <span word="glitz">glitz</span>. <span word="But">But</span> <span word="behind">behind</span> <span word="the">the</span> <span word="hoopla">hoopla</span>, <span word="the">the</span> <span word="real">real</span> <span word="excitement">excitement</span> <span word="is">is</span> <span word="that">that</span> <span word="Russia">Russia</span> <span word="is">is</span> <span word="on">on</span> <span word="its">its</span> <span word="way">way</span> <span word="to">to</span> <span word="become">become</span> <span word="one">one</span> <span word="of">of</span> <span word="the">the</span> <span word="world">world</span>’<span word="s">s</span> <span word="top">top</span> <span word="five">five</span> <span word="car">car</span> <span word="markets">markets</span>.</p><p><span word="With">With</span> <span word="sales">sales</span> <span word="jumping">jumping</span> <span word="in">in</span> <span word="Russia">Russia</span>, <span word="and">and</span> <span word="slumping">slumping</span> <span word="in">in</span> <span word="Europe">Europe</span> <span word="this">this</span> <span word="year">year</span>, <span word="Russia">Russia</span> <span word="is">is</span> <span word="projected">projected</span> <span word="to">to</span> <span word="displace">displace</span> <span word="Germany">Germany</span> <span word="in">in</span> 2014 <span word="as">as</span> <span word="Europe">Europe</span>’<span word="s">s</span> <span word="largest">largest</span> <span word="car">car</span> <span word="market">market</span>. <span word="That">That</span> <span word="would">would</span> <span word="make">make</span> <span word="Russia">Russia</span> <span word="the">the</span> <span word="world">world</span>’<span word="s">s</span> <span word="fourth">fourth</span> <span word="largest">largest</span> <span word="car">car</span> <span word="market">market</span> - <span word="after">after</span> <span word="China">China</span>, <span word="the">the</span> <span word="United">United</span> <span word="States">States</span> <span word="and">and</span> <span word="Japan">Japan</span>, <span word="according">according</span> <span word="to">to</span> <span word="the">the</span> <span word="research">research</span> <span word="group">group</span> <span word="Euromonitor">Euromonitor</span>.</p><p><span word="Russia">Russia</span> <span word="finally">finally</span> <span word="joined">joined</span> <span word="the">the</span> <span word="World">World</span> <span word="Trade">Trade</span> <span word="Organization">Organization</span> <span word="last">last</span> <span word="month">month</span>. <span word="Now">Now</span> <span word="car">car</span> <span word="companies">companies</span> <span word="are">are</span> <span word="racing">racing</span> <span word="to">to</span> <span word="boost">boost</span> <span word="production">production</span> <span word="before">before</span> <span word="import">import</span> <span word="tariffs">tariffs</span> <span word="start">start</span> <span word="dropping">dropping</span>.</p><p><span word="Each">Each</span> <span word="of">of</span> <span word="the">the</span> <span word="American">American</span> <span word="big">big</span> <span word="three">three</span> <span word="automakers">automakers</span> - <span word="Ford">Ford</span>, <span word="GM">GM</span> <span word="and">and</span> <span word="Chrysler">Chrysler</span> - <span word="plans">plans</span> <span word="to">to</span> <span word="invest">invest</span> $1 <span word="billion">billion</span> <span word="in">in</span> <span word="car">car</span> <span word="factories">factories</span> <span word="in">in</span> <span word="Russia">Russia</span>.</p><p>“<span word="We">We</span> <span word="were">were</span> <span word="the">the</span> <span word="first">first</span> <span word="ones">ones</span> <span word="in">in</span> <span word="here">here</span> 10 <span word="years">years</span> <span word="ago">ago</span>, <span word="and">and</span> <span word="we">we</span>’<span word="ve">ve</span> <span word="built">built</span> <span word="over">over</span> 500,000 <span word="vehicles">vehicles</span> <span word="here">here</span>,” <span word="says">says</span> <span word="Ted">Ted</span> <span word="Cannis">Cannis</span>, <span word="president">president</span> <span word="of">of</span> <span word="the">the</span> <span word="Ford">Ford</span> <span word="Sollers">Sollers</span> <span word="joint">joint</span> <span word="venture">venture</span> <span word="in">in</span> <span word="Russia">Russia</span>. “<span word="This">This</span> <span word="is">is</span> <span word="a">a</span> <span word="key">key</span>, <span word="core">core</span> <span word="place">place</span> <span word="in">in</span> <span word="Russia">Russia</span>. <span word="And">And</span> <span word="we">we</span> <span word="see">see</span> <span word="a">a</span> <span word="huge">huge</span> <span word="potential">potential</span> <span word="for">for</span> <span word="Ford">Ford</span>.”</p><p><span word="A">A</span> <span word="few">few</span> <span word="stands">stands</span> <span word="away">away</span>, <span word="James">James</span> <span word="Bovenzi">Bovenzi</span>, <span word="GM">GM</span>’<span word="s">s</span> <span word="president">president</span> <span word="for">for</span> <span word="Russia">Russia</span>, <span word="says">says</span> <span word="GM">GM</span>’<span word="s">s</span> <span word="plan">plan</span> <span word="is">is</span> <span word="to">to</span> <span word="double">double</span> <span word="its">its</span> <span word="Russia">Russia</span> <span word="production">production</span> <span word="over">over</span> <span word="the">the</span> <span word="next">next</span> <span word="five">five</span> <span word="years">years</span>.</p><p>“<span word="GM">GM</span> <span word="values">values</span> <span word="the">the</span> <span word="Russian">Russian</span> <span word="market">market</span>,” <span word="Bovenzi">Bovenzi</span> <span word="says">says</span>. “<span word="We">We</span> <span word="see">see</span> <span word="it">it</span> <span word="as">as</span> <span word="one">one</span> <span word="of">of</span> <span word="the">the</span> <span word="big">big</span> <span word="growing">growing</span> <span word="markets">markets</span> <span word="in">in</span> <span word="the">the</span> <span word="world">world</span>.”</p>
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