Automotive

  • Automotive
    Mar 12, 2024
    Russian New Cars Market Set to Double by 2027 Amid Recovery Efforts

    In a dramatic turn of events, the Russian new car market faced a sharp decline of 62.6% in 2022, plummeting to a market value of $21.9 billion and a volume of 578,289 units. This significant contraction can be attributed to the compounded impact of the COVID-19 pandemic, semiconductor shortages, and geopolitical tensions resulting from Russia’s invasion of Ukraine. Despite these hurdles, forecasts are optimistic, projecting the market value to surge by 108.2% to $45.6 billion and the volume to increase by 108.8% to 1,207,473 units by 2027.

     

  • Automotive
    Mar 12, 2024
    Russian Automotive Manufacturing Industry to Surge by 93.1% to $25.3 Billion by 2027 Amidst Recovery Efforts

    The Russian automotive manufacturing industry faced a significant downturn in 2022, with market values plummeting by 52.4% to $13.1 billion and production volumes decreasing by 60.8% to 0.6 million units. This decline was attributed to the impacts of the Russia-Ukraine conflict, supply chain disruptions, and the exodus of several key automotive manufacturers. For instance, Nissan extended its production suspension in Russia for an additional six months in 2022, reflecting the broader challenges faced by the industry, including severe Western sanctions.

     

  • Automotive
    Feb 22, 2024
    Citroën Models Made in Russia Had ‘Immaterial’ Impact on Stellantis Financials

    Despite Western automakers exiting Russia due to economic sanctions related to the 2022 invasion of Ukraine, a ‘parallel import’ scheme initiated by President Vladimir Putin has allowed consumers to access Western products. It was revealed by Reuters that Russian firm Automotive Technologies produced new models of Citroën C5 Aircross in 2023 in collaboration with China’s Dongfeng Motor Group. The vehicles were assembled using imported kits at Stellantis’ Kaluga plant, which had ceased operations following the automaker’s withdrawal. Pavel Bezruchenko, director for strategic development of Automotive Technologies, disclosed in December 2023 that production at Stellantis’ Kaluga plant is scheduled to resume in Q2 2024. While Russia’s ‘parallel import’ scheme bypasses Western sanctions, imported products must be obtained legally. Stellantis, the parent company of Citroën, operates a joint venture with Dongfeng in China, manufacturing Citroën and Peugeot models.

     

  • Automotive
    Feb 19, 2024
    Mercedes-Benz Sells Stake in Russian Truckmaker Kamaz

    Mercedes-Benz Group has completed the sale of its shares in Kamaz, the leading Russian truck manufacturer based in Naberezhnye Chelny, known for producing over 43,000 vehicles annually with a workforce of 36,000. This move is part of Mercedes’ broader withdrawal from Russia, initiated in April 2023 due to the ongoing conflict in Ukraine.

  • Automotive
    Feb 16, 2024
    Chinese Automakers Lead Russia’s New Car Sales in 2023 Amid Western Withdrawal

    In a significant shift in the automotive market, Chinese brands emerged as leaders in new car sales in Russia throughout 2023, according to data from the Association of European Business (AEB). This change comes as Western automakers exited the Russian market following the imposition of economic sanctions due to Russia’s invasion of Ukraine in 2022. Amidst these geopolitical tensions, China has stepped up as a key automotive trade partner for Russia, reinforcing their ‘no limits’ partnership declared two years prior.

     

    Strategic Moves by Chinese Brands in Russia

     

  • Automotive
    Dec 28, 2020
    Russia’s sales of cars and light commercial vehicles rose 3.4% in September

    According to the AEB Automobile Manufacturers Committee (AEB AMC) in Moscow, new car and light commercial vehicle sales in Russia rose by 3.4 percent or 5,041 units sold in September to 154,409 cars.

     

    In the third quarter, sales of new cars and light commercial vehicles in Russia fell by 13.9 percent or 176,587 units to 1,094,805 cars compared with the same period in 2019.

     

    “September is traditionally a good month for the automotive business,” said AEB-AMC chairman Thomas Staertzel. “In addition to the slowdown in purchasing demand and the weaker ruble, lower travel activity and government support measures led to the third month of growth this year, with an increase of 3.4 percent compared to September 2019.

     

  • Automotive
    Nov 23, 2019
    KAMAZ results in 2018

    2018 was busy for the Russian truck maker KAMAZ. In 2018, KAMAZ entered the Moscow market with electric-powered passenger vehicles for the first time. The contract for the supply of 100 electric buses and 31 charging stations to the Russian capital is currently being implemented. Unique electric buses KAMAZ-6282 require only 10 to 20 minutes to recharge from ultra-fast charging stations. The multi-stage life-cycle contract provides for KAMAZ’s servicing all of the vehicles for 15 years.

     

    In the first half of 2018, KAMAZ acquired a large holding company for the production of automotive components United Automotive Technologies JSC (OAT). The holding includes 12 production enterprises, with 10.5 thousand employees, and a revenue of more than 18 billion rubles. This development significantly expanded KAMAZ’s automotive business and is strategically important for the company’s technological advancement.

     

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