The German manufacturer was a few months late, but followed the example of other major automakers. Russia was a lucrative market for top models such as the G Wagen and S Klasse SUVs, which were popular among the local elite.

In March, Mercedes stopped production and exports to Russia, and now says it is leaving entirely and selling shares of its subsidiaries to a local investor. Harald Wilhelm, Mercedes’ chief financial officer, said he did not expect the recall to have a noticeable impact on the company’s earnings.

And on Wednesday, Ford announced it had completed its exit from Russia by selling its 49 percent stake in the Sollers-Ford joint venture, albeit with an option to buy back within five years “if the global situation changes.”

Nissan left this month, following the example of Toyota and Renault, even after suffering a loss of $700 million, selling the business to a government body for a nominal sum of “less than £1”.

Other car companies, such as Jaguar Land Rover, General Motors, Aston Martin and Rolls Royce, stopped supplying Russia in the first months of the war.

“Mercedes may have hoped for a quick resolution of the conflict, but since that turned out to be unlikely, it made the long-delayed decision to leave Russia altogether,” says James Baggott, editor-in-chief of a specialized online publication. publication.

AEB (Association of European Business) reports that from January to September, Mercedes sold 9,558 cars in Russia, which is 72.8% less than a year earlier.

Sources: BBC, Car Dealer Magazine