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Luxury carmakers looking east

Luxury carmakers are looking to Russia and the Middle East to boost car sales as demand for such cars dry up in America and Europe.

BMW and Porsche are among the manufacturers which are putting together special models designed to please wealthy oligarchs and oil sheiks, reported Financial Times.

Porsche has shown Transsyberia, a model of its Cayenne sports utility vehicles that has roots in Russia, at the Paris Motor Show this week.

While SUV sales have collapsed in the western world, Porsche expects the car to sell well in Russia, where many roads are in bad condition meaning drivers favour large, high vehicles.

Russia’s car market grew 29% in the year to August.

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