Right now, AAA Auto Group is making an audit to determine top selling car brands, and it will pick the 15 most popular to sell. (The sign reads "Sales center.")
Photo: Nikolay Cyiganov
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AAA Auto Group Opens in Moscow
The AAA Auto Group, a major dealer of used cars in Eastern Europe, will open its first dealership in Moscow in spring 2009. The Dutch group was encouraged by the cancellation of double VAT payments on used cars effective in January and the fact that a 1-3 percent increase in interest on loans for auto purchases is predicted to result in a shift toward more economically used cars. AAA is already advertising for employees for its new dealership. Vladan Crgan, AAA publicity director, said that the group plans to open two more dealerships in Moscow before the end of next year as well and to sell 1000 cars per year.
AAA was founded in 1992 and has 42 dealerships in the Czech Republic, Slovakia, Hungary, Poland, Romania and The Netherlands. Its receipts in the first half of the year were ˆ115.3 million, and profit was ˆ5 million on sales of 18,789 cars.
The used car market has come through the financial crisis comparatively unscathed, say experts, while new car sales prognoses have been lowered from 3.15 million to 2.9 million cars in Russia this year. Fifty-five percent of new car sales and 30 percent of used car sales are made on credit. According to Crgan, the new AAA dealerships will stock the 15 most popular carmakers in Russia.
www.kommersant.com
All the Article in Russian as of Oct. 13, 2008
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