Foreign cars are all over Russian roads, and once Renault finalizes its acquisition of local car maker Avtovaz, it will be the biggest player in the country.
The Russian car market is booming, but U.S. traders often have trouble figuring out how to get exposure to this story. Wonder no more.
The idea has been in the air for several months now, but now one of Japan’s biggest car companies has official permission to take control of AvtoVAZ.
The Renault-Nissan alliance is following through on its plans to buy a controlling stake in Russian car maker Avtovaz.
U.S. traders who have been frustrated with the lack of easy access to Russia’s leading car maker just got a bit of extremely bittersweet news from Vladimir Putin himself.
The car market in Russia is giving otherwise lackluster European manufacturers some hope. But the usual suspects from other emerging markets are also getting involved.
Ford even thinks Russia can support 2 million car sales next year as the economy improves and the local version of the “cash for clunkers” subsidy program continues.
This could be great for Tata Motors (TTM, quote), which is sending its first Jaguars and Land Rovers to Russia this year.
It is also great for several local manufacturers. Sadly Kmaz is not traded in ADR form and while you can theoretically buy into Avtovaz (AVTZF, quote), the ADR is extremely illiquid.