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Russia‘s growth and opportunities
Matt Donnelly
President & CEO
Rolf Group – the most profitable automotive business in Russia
Automotive News Europe Congress
Prague, 26 June 2007
RussiaWhy are we all here?
Can
ada
Spai
n
Mex
ico
Italy Bra
zil
Fran
ce
Brit
ain
Ger
man
y
Japa
n
Indi
a
USA C
hina
Sout
h K
orea
Rus
sia
0
5
10
15
20
25
30
Why we're all here : Forecasted Russian Economic Development (PPP 2020 per World Bank)
0
500
1 000
1 500
2 000
2 500
3 000
3 500
4 000
2003 2004 2005 2006E 2007F 2008F 2009F 2010F
Germany France Russia Great Britain Spain Italy Belgium
Source: ACEA (European Automobile Manufacturers Association), DATAMONITOR, PwC estimates.
Why we're all here : Russia to Become #2 New Car Market in Europe
432587
766920
1 1401 330
1 4941 677
1 892
2 9774 072
5 3386 442
8 026
9 40510 622
11 979
13 583
0
500
1 000
1 500
2 000
2 500
3 000
3 500
4 000
2003 2004 2005 2006E 2007F 2008F 2009F 2010F 2011F0
2 000
4 000
6 000
8 000
10 000
12 000
14 000
16 000
Nominal GDP, USDbn [left axis] GDP per capita, USD [right axis]Source: Rosstat, IMF, BMI (2006).
Why we're all here : Unrivalled Market Growth and Consumer Spending
Russia:
RolfWhat‘s so good about us?
- Biggest importer/distributor and the single largest retailer of foreign branded cars retail
- Only Rated Russian automotive business (2007 BB-/Ba3, S&P/Moody's)
- Leading provider of vehicle and spare parts logistics
- Top 10 generator of consumer credits
- First company offering certified second hand sales with service contracts in the Russian market
- Profitable in all aspects of its business
- Continuing to invest in the car business and very optimistic
About Rolf Group
Success of Rolf Group Built on 5 Principles
1. Knowing our customers and suppliers. Setting out to consistently exceed their expectations
2. Having a strong portfolio of manufacturer brands and demonstrating that Rolf adds value to their businesses
3. Continuing to innovate and work using global best-practice benchmarks
4. Building our dealerships where people want to go and investing in sales and servicing skills
5. Hiring the best talent possible and focussing on training
Our Brands, Our Values
Car MarketNational peculiarities
100%
20.7%
3.2%
5.9%
6.6%
6.8%
7.2%
7.5%
9.5%
10.0%
11.0%
11.5%
Market share
66,717Daewoo
59,993Kia
72,484Renault
32,290
Total units sold
Mazda
68,845Mitsubishi
Chevrolet 111,458
209,151Others
95,689Toyota
75,529Nissan
115,985Ford
100,685 (imports: 44,899)Hyundai
1,008,826Total
Brand (rank by sales in 2006)2006
Source: Kommersant, European Business Association, Rolf.
100%
20.7%
3.2%
5.9%
6.6%
6.8%
7.2%
7.5%
9.5%
10.0%
11.0%
11.5%
Market share
66,717Daewoo
59,993Kia
72,484Renault
32,290
Total units sold
Mazda
68,845Mitsubishi
Chevrolet 111,458
209,151Others
95,689Toyota
75,529Nissan
115,985Ford
100,685 (imports: 44,899)Hyundai
1,008,826Total
Brand (rank by sales in 2006)2006
Source: Kommersant, European Business Association, Rolf.
98% of Rolf Retail Sales in Top 10 Import Brands
Some Foreign Brands Need to Catch Up
Only Build What You Can Sell
Small
Lower medium
Upper medium
Large
Small SUVMedium SUV
Large SUV
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2003 2004 2005 2006 2007 2008 2009 2010
Pickup trucks
Minibus, cargo van & light truck
Car-derived van
Large SUV
Medium SUV
Small SUV
Large minivan
Medium minivan
Small minivan
Exotics
Premium coupe & roadster
Coupe & roadster
Upper premium
Medium premium
Large
Lower premium
Upper medium
Entry premium
Lower medium
Sub premium
Small
Minicar
49% in 2006
7% in 2006
Retail assets, different to what you might be used to.
ConclusionNearly there...
Conclusion
No other market offers such a strong business case for foreign car manufacturers
Foreign brands own the future - Russian brands will lose out
Market success most of all depends on the quality and experience of the staff and partners
Very few firms/professionals truly understand market dynamics
Ignore local challenges at your peril
спасибоИ счастливо