The war in Ukraine affects the car market in Russia. Sales are worse than they have been for a long time because, among other things, three German car manufacturers have drawn their conclusions.
Sales of new cars in Russia fell by 59 percent year-on-year to 626,300 in 2022. According to the Interfax news agency, Avtostat, a consulting agency specializing in the Russian car market. Most of the vehicles sold are Russian or Chinese models after Western automakers halted production in the country following the start of Moscow’s war of aggression against Ukraine.
Among others, the German car manufacturers VW, BMW and Mercedes were active in Russia. The Mercedes factory in the Moscow area was only inaugurated in 2019 in the presence of President Vladimir Putin. All three companies have closed their factories.
The Russian car market is far from its peak. In 2008 almost three million vehicles were sold in Russia. At that time there was already speculation that Russia would replace Germany as the most important sales market in Europe. The international financial crisis and later the sanctions that followed the annexation of Crimea slowed down this development. The Russian car market has been marked by crises in recent years. The decline to just over 600,000 vehicles means the lowest sales for the Russian car market in decades.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
