Categories: News

That’s how hard the Russian car market has been plummeted by the war in Ukraine!

The “special military operation” – as Vladimir Putin continues to call the war in Ukraine – is also taking its toll in Russia. The West has still not intervened militarily, but has introduced a heavy package of economic sanctions. And as a result, in any case, the Russian car market has been hit hard.

In March, car sales in Russia fell by 60 percent. April was one degree worse, with a minus of 78.5 percent. Only 32,706 cars were sold in all of Russia, according to figures from the Association of European Business, which represents the interests of foreign investors in Russia.

Will Renault sell its majority stake in Lada?

The most popular car brand in Russia is Lada, whose sales fell by 78 percent in April. Renault owns Lada manufacturer Avtovaz, but would like to sell its majority stake. This after pressure from politicians and public opinion to boycott Russia.

Many manufacturers have shut down their Russian car production

Many manufacturers no longer supply cars to Russia, including Audi, BMW, General Motors, Honda, Jaguar Land Rover, Porsche and Toyota. BMW, Ford, Hyundai, Mercedes, Volkswagen and Volvo, among others, have stopped their Russian production.

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