In 2022, Japanese cars were the kings of the used vehicle market in Russia, making up a whopping 90% of all imported cars. Fast forward to 2024, and that number has plummeted to just 47%. This drastic drop is surprising, especially considering how essential the used car trade is to the livelihoods of many people in Vladivostok, a city in Russia's Far East. During a recent visit, a correspondent from The Insider discovered how international sanctions, resulting from Russia's invasion of Ukraine, have drastically changed the car market.
Chop and Ship: How Cars Are Smuggled into Russia
When the war began in February 2022, many major car companies, including Renault and Nissan, pulled out of Russia. This led to a sharp decline in the import of used foreign cars. Lots that used to be filled with vehicles were left empty, and the prices of cars skyrocketed due to fears of spare parts shortages.
However, as the market began to recover, traders found clever ways to keep their bus...
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