Follow us

Automotive

Russia: EU stop on luxury car exports


The European Commission will examine the proposal for a ceiling for the export of cars to Russia as a sanctioning measure.

In response to the protracted conflict in Ukraine, the authorities of the European Union have targeted the export of luxury goods to Russia . After having already adopted several exemplary sanctions in recent days, the community body still takes a clear position against the campaign implemented by Moscow, in the person of President Vladimir Putin. Yet another attempt to dissuade the country from the East from waging a war that has already cost several victims, including civilians, including children.

Supranational institutions affect exports of high-value products to Russia by applying different price thresholds: while on some consumer goods the ceiling is 300 euros, for others, such as cars, the ceiling is 50 thousand euros . A maneuver that should converge in the fourth package of sanctions, also including the ban on motorcycles, airplanes and boats, for a fee of more than 5 thousand euros.

Many companies have broken their bridges

The proposal, currently under consideration by the European Commission , follows the decision of numerous companies operating in the automotive sector – including Ferrari, Lamborghini, Audi, BMW, Mercedes, Porsche and Bentley – to stop the sale of their models in Russia. Furthermore, this choice should not particularly impact on the financial statements of the manufacturers, since the market in question constitutes about 2 per cent of the global sales of the main brands of the Old Continent of high-end cars: a negligible value, easily compensated by the performance on a global scale. .

A concrete example is given by Ferrari , which has confirmed that it sells between 60 and 70 vehicles per year in Russia (out of a total of more than 11,000 delivered in 2021). Something of little significance, redirected to other nations, thus representing no damage for the Prancing Horse.


Trending