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Car sales in Russia plummet in 2022, to -59%

2023-01-12T14:09:00.068Z


This collapse is explained by the international sanctions against Moscow, taken after its offensive in Ukraine, which notably led to the departure of foreign car manufacturers.


Sales of new cars collapsed in Russia in 2022, melting by 59% over one year, under the effect of strong international sanctions against Moscow for its offensive in Ukraine, which notably led to the departure of foreign car manufacturers.

Last year, 687,370 new light vehicles were sold, according to figures published Thursday by the Association of European Businesses (AEB), which brings together manufacturers in the sector, or nearly a million less compared to 2021. in December alone, sales fell 50%, according to the AEB.

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International sanctions taken in the wake of the start of the Russian offensive in Ukraine had ended two decades of massive investments made by the world's major automakers in Russia.

Western countries had notably banned the export of spare parts to Russia, a major problem for the logistics branches of the sector.

To circumvent these difficulties, the Russian government had announced that it would authorize the import of major car brands and spare parts without the agreement of the intellectual property holders.

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In addition to the end of exports of spare parts, particularly European, many producers have simply stopped selling components or cars to Russia, like Audi, Honda, Jaguar or Porsche.

Others have announced the cessation of their production, such as Renault, BMW, Ford, Hyundai, Mercedes, Volkswagen or Volvo.

In addition, inflation, at nearly 12% for the year 2022, has reduced the purchasing power of Russians and the possibilities for them to buy imported products, especially cars.

Source: lefigaro

All news articles on 2023-01-12

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