Opel hails Russia growth

Opel says it is the fastest growing brand in Russia.

The German carmaker sold 62,000 cars in the first seven months, a spokesman told Automotive News Europe, citing figures from the Association of European Businesses in the Russian Federation.

Opel sold 66,000 cars for the whole of 2007.

Carl-Peter Forster, president of General Motors Europe, Opel's parent, says the new middle class in Russia is gaining buying power even faster than expected.

"The Russian market has great growth. It is amazing," Forster told Germany's Manager magazin.

Forster also said: "There is a bottleneck with suppliers in Russia. It is crucial for future growth for this to be overcome."

The Astra lower-medium car was Opel's best selling in Russia in the first seven months, with 26,000 vehicles sold, the company said.

GM will open a new plant in St Petersburg, Russia, in November to build the Chevrolet Captiva and Cruze models and the Opel Antara for the local market. It will have an initial annual capacity of 70,000 units.

Sales of foreign brands in Russia grew 61 percent to more than 1.64 million in 2007, according to the Association of European Businesses in the Russian Federation.