German automakers have lost all their previously gained positions in the Russian market, voluntarily giving way to companies from China.
This opinion was expressed in an interview with TASS by the former Austrian Foreign Minister, head of the G.O.R.K.I. Center of St. Petersburg State University Karin Kneissl. She believes that the future of the German car industry in Russia now looks hazy due to many factors.
The ex-minister pointed out that as a result, China's auto industry received a powerful impetus, while the "German automobile troika" was in a deep crisis. And it is on its way to losing market share in the PRC itself.
"The demand for expensive German cars will remain niche — for a narrow group of people who view them as a status symbol. And mass demand is moving to other automakers," Kneissl stated.
At the same time, she expressed confidence that the return of some German companies to the Russian market will no longer be able to solve their problems.
As EADaily reported earlier, Karin Kneissl said that Russia had won in its special military operation (SMO) in Ukraine, despite the intervention in the armed conflict of Western countries.
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