Mazda leaves the Russian market

10.11.2022,16:57


November 10, Fineko/abc.az. Mazda Motor has decided to cease its activities in Russia.

ABC.AZ reports that the concern will transfer its share in JV Mazda Sollers Manufacturing Rus for the production of cars in the Far East to company Sollers Auto.

As follows from the financial report of the Japanese automaker for Q2 of fiscal year 2023, the decision to transfer the share was made on October 24, 2022. The transaction is valued at a symbolic price of one euro.

Due to the withdrawal from the Russian market and the transfer of a share in the business, Mazda Motor expects a loss of 12 billion yen ($82 million).