Several carmakers have withdrawn from the Russian market in 2015
- With an automotive market that is expected to reach 1.75 million units, the Russian market will lose one third of its volume in 2015 compared to 2014. However, for 2016, Inovev expects a market growth, thanks to different grants in various shapes and forms from the government.
- The consequence of this very bad economic situation, some carmakers decided to permanently leave the Russian market, which seems a brutal decision to be compared to the one taken in the last few years by some carmakers located in Iran. Indeed, it is brutal to abandon a market that still offers such a strong medium to long term potential.
- But it is true that the current situation of some carmakers in Russia is highly fragile. The graph below gives an overview of the decline in sales of major brands on the Russian market.
- In grey, the decline of the Russian market over the 10 months in 2015 across all brands and dark green brands that have already announced that they were withdrawing from the market (Seat, Honda, Opel, Chevrolet). Note that all brands are down overall but some have managed to limit the impact: Korean brands Hyundai and Kia, as well as the German premium brands Mercedes, BMW, Audi and Porsche, and finally Nissan is the only one to produce more and more models in Russia to meet import restrictions required by the Russian government.
Contact us: info@inovev.com