Cars sold – Mercedes withdraws completely from Russia

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Cars sold – Mercedes withdraws completely from Russia

Mercedes-Benz completely sells its Russian activities. The sales company and car assembly plant with more than 1,000 employees will be sold to Russian investor Avtodom, the Stuttgart-based company announced.

In the first half of the year, the cessation of operations in Russia following the war in Ukraine and associated EU sanctions resulted in a EUR 700 million charge for the car company. As there are no other securities, Mercedes expects neither write-downs nor revenue from the sale.

The French car company Renault recently sold its Russian company for one ruble. His partner Nissan from Japan donated the Russian activities for one euro to a Russian state company and had to write off the equivalent of about 685 million euros. Nissan and Renault have negotiated a buy-back clause within six years. The Russian newspaper “Vedomosti”, citing insiders, reported that Mercedes-Benz could also agree on such a clause.

Vehicles still sold until September
According to data from the European Business Association AEB, about 9,500 new cars of the star brand were delivered to Russia from January to September. According to the company, this mainly concerns vehicles from dealer stocks, as Mercedes stopped its own sales in March.

Source: Krone

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