Russian car sales collapse as Ukraine war leads to supply, price shocks

Linda D. Klein

Kazakh vehicles

With new vehicles really hard to discover in Russia and accelerating inflation threatening to devalue their financial savings, some Russians have turned to neighboring marketplaces that have remained open up to them.

Russian customers accounted for about 10 % of profits at Autodom in the Kazakh metropolis of Kostanay, 180 km (110 miles) from the border, in accordance Yevgeniy Biber, the dealership’s gross sales chief.

Beforehand, they created up about 1 p.c of buyers, he explained.

Even right before the disaster, Russia was by now battling a deficit of new autos due to offer chain disruptions and distribution delays that the automotive marketplace has contended with globally.

Russian new car or truck product sales previous year ended up down nearly 50 % from their peak in 2012 as the financial system stagnated due to the fact the 2014 annexation of Crimea from Ukraine.  

Amid a dearth of sections required to hold factories open, Interfax documented that AvtoVAZ strategies to introduce a stripped down version of its Lada model made with a bare minimum of overseas components this kind of as airbags and anti-lock brake methods.

Car product sales in March had been among the the worst in the last 15 a long time, according to Azat Timerkhanov of Russia’s Autostat consultancy.

“If Europe will not restore deliveries, China will be the primary beneficiary, at least in terms of current market share,” Timerkhanov mentioned. “But volumes are going to proceed to slide.”

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