According to the latest report, sales of Hyundai Motor and Kia Motors in the Russian auto market in March 2022 fell sharply as the Russian-Ukrainian conflict intensified.
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Moreover, the Association of European Businesses (AEB) recently said that Kia Motors, which ranked second in the Russian car market, sold 6,336 vehicles in March, a decrease of 68% from 20,057 vehicles in the same month in 2021. The third-ranked Hyundai also fell from 15,332 to 4,909, a decrease of 68%.
In addition, AvtoVAZ, the local company with the highest market share in Russia, sold 12,289 vehicles in March, down 64 percent from 33,779 a year ago.
Furthermore, the report noted that global automakers, which announced their withdrawal from the Russian market following Russia’s military action against Ukraine, also saw a sharp drop in sales. Lexus sales plunged 91%, while Volkswagen slumped 74%, followed by Volvo (-72%), Toyota (-69%), Renault (-65%) and Audi (-64%).
