Volkswagen Group is to stop selling SEAT brand vehicles in Russia due to persistent weak demand and the adverse impact of the weak rouble on imports to Russia.
Russia’s economy has been hit hard by plummeting energy prices and sanctions imposed by Western nations in the wake of the geopolitical crisis in Ukraine. The car market has slumped as demand for big-ticket consumer goods has waned.
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Reuters reported that a spokesman for the brand told the news agency SEAT will stop sales from January “due to the contraction of sectors in which it is represented, the general economic situation in Russia and currency rate fluctuations.”
Reuters noted that SEAT sales halved last month to stand at just 78, while its ten month sales were down 57% at just 1,324 units.
