Against the background of news about the sale of the Russian stake in the Mazda Motor business to Sollers Auto for $1, Izvestia calculated that foreign automakers leaving the Russian market lost a total of around 4.5 billion euros.
The Mazda Motor press service reported that “the company has decided to transfer its entire stake in Mazda Sollers Manufacturing Rus LLC in favor of Sollers PJSC, our joint venture partner,” Izvestia writes.
The corresponding agreement was signed on October 24. Sollers confirmed that he would buy Mazda’s stake for a token €1 and plans to restart the plant on a new line of models.
According to the firm’s financial report, the decision will cost Mazda Motor about 12,000 million yen (81.7 million euros). This includes both lost assets and unrealized investments.
All other automakers that have exited the Russian market suffer similar losses on these two key parameters. This is how the companies themselves assess their losses:
- Nissan: 24.1 billion yen (165 million euros) and a 68% decrease in revenue in the second quarter (compared to 2021),
- Toyota: 77,200 million yen (526 million euros),
- Renault: 2.3 billion euros,
- Mercedes-Benz: 1.4 billion euros
The total cumulative losses of automakers leaving the Russian market, according to rough estimates, may be about 4.5 billion euros.
“In previous years, most car manufacturers actively invested in Russia: they invested in the construction and modernization of car factories and logistics centers. After leaving, these investments must be written off at a loss, ”says Vladimir Bespalov, an expert on the automotive market.
It also points out that these losses for foreign companies are insignificant, since the share of businesses in the Russian Federation does not exceed 2% of their global sales.
Sergey Burgazliev, an independent consultant to the auto industry, also believes that this is true for such giants as Mercedes-Benz and Infiniti, and only for Renault-Nissan, the loss of Russian customers can be “a rather serious blow.”
Author:
Ekaterina Alipova
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
