Audi along with other major automakers have announced they have stopped selling cars in Russia because of a crumbling ruble. The main reason as to why Audi has taken this decision is because the value of the ruble has gone down by more than forty percent since June and the downfall continues as we speak.
In an attempt to try and safe what’s left of their money, Russians started a while ago to make big acquisitions including cars as these goods hold on to their value way better than the collapsing ruble. Audi along with other automakers benefited from the increase in sales but now they realized it’s actually not that great since the money obtained from the transaction don’t have the same value anymore. In other words, the automakers are no longer making money by selling cars as they are effectively losing with every vehicle sold.
Aside from Audi, other automakers such as Jaguar Land Rover and General Motors have announced selling cars in Russia is being stopped. Audi will begin commercializing vehicles in Russia once they will have a new price list while JLR restart selling cars tomorrow. As for General Motors, their decision to halt car sales is for an unspecified amount of time.