German carmakers have lost all their previously gained positions in the Russian market, having voluntarily ceded their place to companies from China.
This opinion was expressed by former Austrian Foreign Minister and head of the G.O.R.K.I. Centre at St. Petersburg State University Karin Kneissl in an interview with the media. She believes that the future of the German car industry in Russia now looks vague due to many factors.
The former minister pointed out that as a result, the Chinese car industry has received a strong impetus, while the ‘German automotive tri0’ is in a deep crisis. And is on its way to losing market share in the PRC itself.
‘Demand for expensive German cars will remain niche – for a narrow group of people who see them as a status symbol. And mass demand will go to other car companies,’ Kneissl stated.
At the same time, she expressed confidence that the return of some German companies to the Russian market will not be able to solve their problems.
Earlier, Karin Kneissl said that Russia had won its special military operation (SMO) in Ukraine despite the interference of Western countries in the armed conflict.
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