New automakers suspend production in Russia
- Manufacturers BMW, Mercedes, Hyundai-Kia, Mazda and Mitsubishi have announced that they will suspend production in Russia, as have Stellantis, Renault and Volkswagen. Toyota has decided for its part to definitively cease automobile production in Russia. Nissan has not yet made a decision on this.
- In addition, Honda, Volvo, GM, Jaguar, Land Rover, Aston-Martin and Porsche that do not produce in China have decided to suspend the sale of vehicles on the Russian market.
- The Hyundai-Kia group has become a major producer in Russia for about ten years. In 2021, the Korean group manufactured 400,000 vehicles there, i.e. 30% of all automotive production in Russia, as much as the Renault group (300,000 Lada + 100,000 Renault). If Hyundai-Kia decided to leave Russia, it would cause immense damage to the Russian automobile industry which could induce Chinese manufacturers to take its place. But Russia representing only 6% of the Korean group's production and sales worldwide, this would cause relatively little damage to Hyundai-Kia.
- Toyota is more modest since it represents only 6% of Russian production in 2021, but has been progressing every year for the past ten years. Toyota produces less than 100,000 vehicles in Russia (80,000 units in 2021).
- Mazda, Mitsubishi, Mercedes and BMW together produce only 80,000 vehicles in 2021, or about 20,000 units each. If these manufacturers left Russia, the damage caused by this departure would be very minimal.
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