Russian automotive market: summary 2013
Deloitte CIS held a Christmas brunch for companies in the automotive sector, providing a platform for the discussion of current issues and trends in the automotive industry, not only in Russia, but across the globe.
Moscow, 16 December 2013. Deloitte CIS held a Christmas brunch for companies in the automotive sector, providing a platform for the discussion of current issues and trends in the automotive industry, not only in Russia, but across the globe. The event was held at “Moskvich” restaurant in the Retro Auto Museum.
When opening the event, Wayne Monteith, Partner and Head of the Manufacturing Industry Group at Deloitte CIS, noted: “The Russian automotive market is facing particular challenges this year, but the long term outlook is very positive and there are great opportunities for original equipment manufacturers, suppliers, dealers and other market participants to take advantage of the expected growth into the future.”
Svetlana Fedorova, Partner and Automotive Group Leader at Deloitte CIS, gave a presentation on trends in the automotive industry in Russia and across the world. “The global automotive market is under constant development,” she said. “Currently, the Russian automotive market is experiencing a number of significant problems, including a reduction in sales volume, an increase in competition, a change in consumer habits, along with an increased level in consumer expectations as well as constant changes to legislation in terms of tariffs on recycling services, share of local manufacturers and transfer pricing.”
During his presentation, Roman Tarasov, Director of Tax & Legal at Deloitte CIS, outlined the current liabilities for recycling, as well as the practical aspects participants would have to deal with when fulfilling these liabilities.
Participants had the opportunity to discuss the development prospects of the Russian automotive market from the point of view of foreign automotive manufacturers, as well as to assess the future role of the captive banks of Russian automotive manufacturers.
Representatives of the following leading automotive companies participated in the event: BMW Financial Services Russia, Chery Automobile Rus CJSC, Luxgen Motors, Mitsubishi Motors Rus LLC, Mitsui & Co. Moscow LLC, Renault, Sollers, Subaru Motor LLC, Suzuki Motor Rus LLC, Toyota Motor Manufacturing Russia LLC, VOLKSWAGEN Group Rus, Volvo. There were also representatives of government authorities, banking sector businesses and Russian economy experts.
The Christmas brunch for representatives of companies in the automotive sector has become a wonderful tradition. Once again, participants responded positively to this event, praising its efficacy and organisation.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.