On July 14, Japanese carmaker Isuzu Russia Co., Ltd., the official manufacturer and distributor of Isuzu, announced that it had sold 100% of its Russian subsidiary.
It is understood that Isuzu has withdrawn from the Russian market and transferred its shares in its Russian subsidiary to Russian automaker Sollers. Subsequently, Russian carmaker Sollers also announced that it had completed the acquisition of Isuzu's Russian assets of Japanese auto group Isuzu and would restart the production platform of 50bell Russia in Ulyanovsk.
According to the agreement, within the framework of the acquired legal person, Sollers Group will provide spare parts for 50L trucks and passenger cars to meet its warranty obligations to customers and provide services in Russia. In addition, Sollers plans to restart Isuzu Russia's production platform in Ulyanovsk to preserve jobs and ensure existing production capacity.
It is understood that the Japanese carmaker Isuzu has officially entered the Russian market since 2006. In 2008, the company's factory in Ulyanovsk began operation. The company has about 200 employees and mainly produces pick-up trucks and trucks. In March 2022, Isuzu stopped operating the plant because of the conflict between Russia and Ukraine and tight supply chains, and in November of the same year, Isuzu said it was considering the possibility of withdrawing from Russia. Since then, due to difficulties in the supply of spare parts, Isuzu had to withdraw from the Russian market and sell the factory.
Data show that the factory produced a total of 3700 cars in 2021, accounting for about 1 per cent of Isuzu truck production. Isuzu said the main reason for its departure from Russia was "lack of prospects for resuming business operations".
As for Sollers, it is a Russian carmaker that has worked with Ford, Mazda and Isuzu. The Sollers Group has production bases for Russian SUV and UAZ light commercial vehicles (Ulyanovsk Automobile Plant) and ZMZ gasoline engines (Zavolzhsky Automotive Plant).
In addition to Japanese carmaker Isuzu, in fact, as early as May last year, a number of car companies have chosen to "break arms" to withdraw from the Russian market. Among them, Renault, which accounts for nearly 10% of the Russian car market, first announced its withdrawal from the Russian market, followed by Toyota, Nissan, Ford and Mazda, and Hyundai and Mercedes-Benz also announced that they would sell their assets in Russia. Most of the reasons for these car companies to abandon the Russian market are hit by the Russian-Ukrainian conflict that broke out in February 2022, followed by western sanctions, supply disruptions and the intensification of the Russian-Ukrainian conflict, coupled with the limited supply of raw materials available at home. The Russian auto industry has also been hit hard by a large number of car companies announcing a moratorium on car exports and sales to Russia. Data show that Russian car sales totaled 687400 units in 2022, down 41.24% from the same period last year.
Against this background, Chinese car companies are constantly expanding the Russian market, and their market share has increased from 9% in January 2022 to 37% in December 2022, while Korean brands have dropped from 28.3% to 11.2%. European brands have dropped from 28.3% to 7.3%; Japanese brands have dropped from 17.9% to 6.6% and American brands have dropped from 1.1% to 0.9%.
According to the industry view, as overseas brands lose competition in Russia, the territory of the Russian market for Chinese car companies will continue to expand, and Chinese car brands may be able to further expand their share of the Russian car market in the future. Taking the sales data for the first quarter of this year as an example, according to data released by the Russian Association of European Enterprises (AEB), the market share of Chinese car brands soared from 18% to 42% in the first quarter of this year, of which Chinese brands represented by Geely, Chery and Great Wall accounted for 16.5%.
New car sales in Russia have also recovered as Russian and Chinese brands fill the market share left by overseas manufacturers. According to industry analyst Autostat, new car sales in Russia in June were 82407, up 151.8% from a year earlier, but judging from the current sales situation, it is still difficult for the Russian market to recover to the level before the situation between Russia and Ukraine in the short term.
Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat
Global auto giant Stellantis Group has been exploring the possibility of working with Chinese electric carmakers, including zero cars, according to people familiar with the matter. In October of the same year, Stellantis Group spent 1.5 billion euros (about 11.5 billion yuan)
According to the National Enterprise bankruptcy reorganization case Information Network, upon the application of Weima Automotive Technology Group Co., Ltd. (hereinafter referred to as "Weima Technology Group"), the Shanghai No. 3 Intermediate people's Court issued (2023) Shanghai 03 Breaking No. 1041 Civil order on December 29th, 2023, and ruled to accept Weimake.
A few days ago, a number of auto bloggers revealed pictures that a domestic car factory is full of Civic Type R inventory cars, the appearance of the basic color matching is supersonic gray and champion white, in addition mixed with one or two rally red. It is rumored that due to the poor sales of Civic TYPE R, the car has been in the end market.
A few days ago, a letter from SAIC GM Wuling Motor Co., Ltd. on the adjustment of general manager and executive committee members showed that after discussion by the party committee of Shanghai Automobile Group Co., Ltd., the president agreed: Shenyang will no longer hold the post of general manager of SAIC GM Wuling Automobile Co., Ltd., recommending Lu Jun to become SAIC GM Wuling Motor.
Porsche doesn't smell good in China? 2023 ends with negative growth again! A few days ago, Porsche released the latest sales figures, showing that Porsche sold 320221 vehicles worldwide in 2023, an increase of 3% over the same period last year, of which the total delivery volume in China was 79283, although it is still the largest in the world.
Tesla announced the closure of direct stores to reduce operating costs, followed by Tesla car price reduction. A few days ago, Tesla fulfilled his promise and began to close stores in the United States, and then will continue to expand the scope. According to foreign media sources, Tesla has begun to close the first batch of stores and will close more in the coming weeks. Tesla has informed employees of dozens of stores to tell customers to reschedule the test run and transfer the reservation to another store because the store where the employee is located will be closed, according to a person familiar with the matter. The closed stores are mainly in the United States, especially in California. On March 1, Tesla announced a major decision, including.
Because BMW, Audi and Mercedes-Benz entered the domestic market earlier, and more importantly, they have huge sales in China, so that many people will immediately consider BBA when choosing luxury cars. BMW 7-Series is a very important member in the luxury car level. According to BMW officials today, the launch ceremony of the new BMW 7-Series will be held at 19:30 this evening. As a mid-term revamped model of the sixth generation model, the new BMW 7-Series has adopted a new family design language, the configuration and power system have also been upgraded, and the overall sense of luxury and technology has been significantly improved. In terms of appearance, the new BMW 7 Series is a medium-term change.
Recently, the people's Court of Chaoyang City in Beijing disclosed the Criminal judgment of the first instance of Xu's bribery and the Criminal judgment of the first instance of Li's bribery. The verdict showed that BAIC New Energy Marketing Xu, as a state functionary, took advantage of his position to seek benefits for others and illegally accepted property from others with his family Li, in a huge amount; in order to seek illegitimate interests, he collaborated with others to give property to state functionaries, and his behavior constituted the crime of accepting bribes and offering bribes, and he was sentenced to seven years in prison and fined 300000 yuan in accordance with the law. After investigation, the defendant Xu went through Company B from December 2018 to July 2020.
After Dongfeng Group formally approved the merger of Peugeot PSA Group and FCA Group, the merger of PSA Group and FCA Group was promoted. FCA issued a statement on May 6th that Fiat Chrysler (FCA) and Peugeot Citroen (PSA) will still merge in early 2021. The merger was first announced in October 2019 that the PSA and FCA groups will fully merge with a 50:50 stake to expand and cope with costly investment in new technologies and slowing market demand. The merger signed in December 2019.
Recently, Ms. Guo, a car owner in Shaoxing, Zhejiang Province, reflected to the media that the new Audi Q3 car, which she bought for more than 210000, was braked automatically after going uphill. At that time, she didn't have time to react and there were other vehicles behind. Although this scene did not cause an accident, it also frightened Ms. Guo. Why did the vehicle suddenly stop automatically? What's going on? According to the 1818 Golden Eye report, Ms. Guo bought an Audi Q3 at the end of last month. The price of the car was more than 217,000. The new car did not drive long, but it suddenly stopped while driving on the uphill road on January 15. And she didn't step on it.