Korean automakers Kia and Hyundai will completely close their businesses in Russia by the end of 2023. In this respect reports Telegram channel Mash.
According to the channel, car dealerships are selling their remaining stocks at a profit of 1 million rubles, replacing signs and assortments with Chinese-made cars, and staff are leaving en masse. The report states that due to sanctions, Kia and Hyundai can no longer supply the Russian market, and parallel imports do not meet expectations due to difficulties in delivery, high costs and long delivery times.
The popular Kia Rio model in Russia is no longer available in car dealerships. Two models are available at one of the Moscow dealerships – 2022 Cerato for 3 million rubles and K5 for 3.5 million rubles, both are not in the maximum configuration. Also, Hyundai Solaris, Elanta and Sonata are no longer on sale, only crossovers remain, for which they ask at least 4.5 million rubles.
Accoding to dealer centers employees, car dealerships will continue to serve Korean brand cars, but the cost will increase by 20%. Car dealership employees also say that there is no demand for Chinese cars, their prices do not suit buyers, and even Chinese representatives drive Volvos.
According to socialbites.ca, Kia is already translated Part of the representative office from Russia to Kazakhstan.
