Kazakhstan-Assembled Toyota's To Go On Sale In 2014
News: Japanese automaker Toyota Motor has announced that its first car assembled in Kazakhstan will be launched in the CIS market in 2014, Vestnik Kavkaza reports. The cars will be assembled in Kostanay, at a 50,000 square metre production site. Toyota has invested a reported US$170mn into the project.
BMI View: Kazakhstan witnessed an oil boom along with a rapid rise in average incomes, leading to increased spending on consumer products such as cars. The country is vast and sparsely populated, so, there remains strong structural demand for trucks and buses and a large market in parts and accessories. Vehicle demand is highest in the country's commercial capital Almaty, which has more than one million inhabitants, making it the largest city in Kazakhstan. The number of passenger cars is unexceptional by international standards, but still the highest in the region. Kazakhstan represents over half the regional market, with nearly 90% of vehicles originating from Russia and Uzbekistan.