Russia

  • Contract developments

    News » Gefco edges nearer flotation

    December 5th 2018 Gefco has reaffirmed it is looking to make a public offering on the Euronext Paris stock exchange in 2019. Russian Railways, which has a majority stake in the transport and logistics provider, said it was considering a partial reduction of its 75% stake to below 50%. Gefco’s former owner and partial stakeholder Groupe PSA, will […]
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  • International trade

    News » Russia continues to increase finished vehicle imports

    November 28th 2018 Russia imported 212,400 finished vehicles from January to November of 2018, which is an increase of 15.8% compared to the same period of last year, Russian Federal Customs Service (FCS) estimated. The overall value of finished vehicles imports during that period reached $5.2 billion, FCS added. Almost 33% of passenger cars are being imported into […]
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  • International trade

    News » Russia increases component exports

    November 21st 2018 Several automotive manufacturers in Russia are increasing component exports in line with plans announced at the beginning of this year. Joint venture Ford Sollers has doubled the number of different part lines it exports to the EU to 100 this year (compared to 50 in late 2017) and said it plans to export 120,000 units […]
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  • International trade

    News » Gaz could be sold to VW to avoid US sanctions

    October 31st 2018 Volkswagen may purchase a stake in Gaz Group to help the Russian carmaker avoid US sanctions, said Russian deputy prime minister Dmitry Kozak, speaking during a press conference in Moscow on October 19. Negotiations have already taken place, but the final decision has not yet been made, Kozak added. The US Treasury imposed sanctions in […]
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  • Manufacturing moves

    News » Mazda opens new engine plant in Russia

    September 26th 2018 Vladimir Putin and Shinzo Abe recently attended the opening ceremony of a new engine plant at Mazda Sollers Manufacturing Rus in Vladivostok, which was launched officially on September 10. The plant is designed to manufacture 50,000 Sky Activ-G engines per year in accordance with the Euro-5 emission standard. Investors plan to export the engines to […]
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  • Trade sanctions

    News » Gaz feels the sting of US sanctions

    September 12th 2018 Russian OEM Gaz Group is facing supply chain disruption due to several European component suppliers ceasing trade with the company following US sanctions on companies owned or controlled by Oleg Deripaska.  According to Russian news source Vedomosti, one of the effects is the supply of electric buses to Moscow as part of a 6.35 billion ruble ($100m) contract the […]
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  • Parts sourcing

    News » Russians drop US dollar for components purchases

    September 11th 2018 Russian Trade and Industry minister Denis Manturov (pictured) has revealed that many Russian automotive manufacturers are increasingly using national currencies, rather than the US dollar, to pay for imported components. The move has been prompted by recent US sanctions on Russia. Several companies have so far announced the policy, trade with Turkey being the main […]
  • Government policy

    News » Russia plans new localisation requirements

    August 15th 2018 OEMs’ eligibility for Russian state support, including tax breaks on components imports, will be determined from 2019 via a new points-based system to estimate vehicle localisation levels, the country’s Industry and Trade Ministry announced at the beginning of August. The new system will replace the percentage-based model used for more than a decade under the […]
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  • International trade

    News » Russia’s car exports fail to meet forecasts

    July 30th 2018 Russian vehicle exports are behind government expectations, despite being up 3% on last year’s figures. The country exported 34,200 finished vehicles between January and May this year, according to the country’s Federal Custom Service, but due to the logistics subsidies and other state support measures that have been made, the amount was predicted to be […]
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  • International trade

    News » EEU hits vehicle makers with revised rates

    July 23rd 2018 Carmakers with assembly plants in Russia, Kazakhstan and Belarus are now unable to export finished vehicles duty free within the Eurasian Economic Union (EEU), because the localisation rate has increased. Previously, almost all Russian carmakers, as well as those foreign carmakers with plants in the region, were registered on the EEU’s database of duty-free exporters […]
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