What about a Russian embargo on EU car imports?
- In the Ukrainian conflict and following the sanctions of the United States and Europe against the Russian government, the Russian government responded by establishing an embargo on food imports from Europe, the United States, Australia and Norway. It also threatened to ban flights over its territory. No announcement on the auto industry has been made so far, but Europe is the largest exporter of vehicles towards Russia (1 of 2 vehicles imported to Russia comes from Europe), the possibility of an embargo on imports is not unthinkable and could have a negative impact on manufacturers.
- In H1 2014, Russia imported 167 000 vehicles from Europe, 30% less than the same period last year. The share of European imports into the Russian market has decreased from 26% to 19% of the total market.
- Countries that could be the most affected by a possible embargo are Great Britain, which exported 56 000 units to Russia in the the first half of 2014, followed by Germany 46 000 units and Spain with 22 000 units exported. France would be affected to a lesser extent because the majority of Renault-Nissan and PSA vehicles sold in Russia are produced locally.
- Brands that are likely to be the most affected are Nissan (34 000 vehicles exported to Russia in H1 2014), followed by Hyundai (21 000 units). In third position Toyota (19 000 units) , followed by Mercedes (18 000 units) and VW (17 000 units).
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