Mercedes completely abandons the Russian market

The Russian Ministry of Industry and Trade announced that the German company Mercedes-Benz has transferred all its assets in Russia to the Russian company Avtodom.

In the written statement made by the Russian Ministry of Industry and Trade, it was indicated that an agreement was signed with Mercedes-Benz on the transfer of all assets of the company in Russia to Avtodom.

PRODUCTION STOPPED IN MARCH

Mercedes stopped production in Russia in March.

According to data from the Russia-based European Business Association (EBA), sales of Mercedes-brand cars in the country fell 72.8 percent in September from the same period a year earlier.

In Russia, previously the assets of the Renault and Nissan companies were transferred to the Russian government. (AA)