But it is not over for Russia. In fact, it may just be beginning.
U.S. News & World Report writes that sales of SUVs in Russia is so good, there are actually waiting lists. To get a Toyota Land Cruiser, for example, you have to wait as long as two years. Other reports say that Russians bought about 400,000 SUVs -- that’s twice as many as were purchased in Germany, the biggest market for SUVs in Western Europe.
Why the SUV lovin'? We guess you can say it is like the 1950s in the U.S. Russians are image conscious just like we were in the ‘50s and they want that large sedan or SUV. More importantly, though, the former Communist nation is a growing exporter of crude and nary a Greenpeace in sight.
Our take? Take heart, you world auto makers, who have a backlog supply of SUVs in inventory, you can dump them in Russia. But that can also mean that Russia will be consuming more gasoline putting more of a demand on a dwindling supply. And what does that mean? Higher prices for us at the pump. As they say, what goes on half way around the world can personally effect your pocketbook or wallet.