Car sales in Russia rose 151.8% year-on-year in June, analytical agency Autostat said on Wednesday, continuing to rebound from a dramatic car industry slump in 2022. Russia’s auto industry had been heavily reliant on investment, equipment and parts from overseas and was hit hard by the fallout from Western sanctions over the conflict in Ukraine.
MOSCOW — As the exodus of Western carmakers narrows options for Russian consumers, Chinese automakers are filling the gap, forcing Russians to overcome their reluctance to embrace Chinese brands and stomach higher prices. Chinese brands such as Haval, Chery and Geely now account for almost 40% of Russia’s new car sales, data from analytical agency Autostat and consulting
A Russian court on Monday froze all Volkswagen assets in Russia, in the latest obstacle to the German carmaker’s year-long efforts to wind down its Russian operations. Volkswagen, along with other foreign carmakers, suspended operations in Russia last year after western countries imposed unprecedented sanctions on Moscow over the conflict in Ukraine. Volkswagen has been
Russian President Vladimir Putin signs an engine in 2018 while visiting the Mazda Sollers Manufacturing Rus auto plant with Japanese Prime Minister Shinzo Abe, second right, in Vladivostok, Russia. (AP) MOSCOW — Russian carmaker Sollers will buy out Japanese auto maker Mazda’s 50% stake in their joint venture car assembly plant in Vladivostok, Sollers said
Nokian’s tire plant in Vsevolozhsk, outside St. Petersburg, Russia. (AP) HELSINKI — Nokian Tires has signed an agreement to sell its Russian operations to Russian oil producer Tatneft PJSC for 400 million euros ($398.7 million), the Finnish company said on Friday. At the end of June, Nokian Tires said it would initiate a controlled exit
Mercedes-Benz has become the latest carmaker to exit the Russian market following Moscow’s invasion of Ukraine in February 2022. The firm stopped building cars in Russia in March 2022, and it announced plans to sell its remaining Russian assets to a local investor. Russian dealer chain Avtodom will purchase Mercedes-Benz’s shares in local subsidiaries, according
Russian state-owned Lada resumed production of the Largus in June 2022 using a batch of spare parts it kept in storage. The carmaker has announced that the wagon, essentially a re-badged first-generation Dacia Logan, is being turned into its first series-produced electric car. Lada published a photo of the model, which is called e-Largus, but
