Porsche announced problems with the sale of business in Russia

The German manufacturer Porsche AG, which stopped official deliveries of cars to Russia in 2022, did not leave the country due to difficulties with the sale of assets. It is reported on June 16 Autonews.ru with reference to the company's press service.

Matthias Rauter, Head of Corporate Communications at Porsche AG, explained that the company still has three Russian subsidiaries (Porsche Russia, Porsche Center Moscow, PFS Russia). All attempts to sell these companies have so far failed, he said.

Earlier it was reported that Porsche AG planned to complete the sale of its Russian subsidiaries by the end of fiscal year 2024. In March of that year, the company announced that it had agreed with an independent external investor to sell two Russian distribution companies, LLC Porsche Russland and LLC Porsche Center Moscow, as well as a Russian financial services company, LLC Porsche Financial Services Russland.

Porsche announced the suspension of car shipments to Russia on March 4, 2022. As of the beginning of that year, the brand was represented in 20 cities of the Russian Federation by 26 dealerships. In total, almost 6.3 thousand cars were delivered to the country in 2021, the most popular model was the Cayenne crossover.

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On June 9, it was reported that Mitsubishi Motors has no plans to resume production of cars in Russia. It was noted that all Mitsubishi's activities in the country remained, with the exception of official car deliveries.