Earlier it was reported that the Russian car manufacturer Hyundai – LLC “Hyundai Motor manufacturing Rus” – has filed a petition with the FAS about getting into the property 94,83% General Motors plant in Shushary. Service approved.
“Despite the fact that Hyundai and GM are the same commodity market, and the necessity of granting the competition authority the regulations were absent for a number of reasons. Currently, the combined share of the parties on the market of vehicles on the territory of the Russian Federation does not exceed 15%. Thus, the implementation of the relevant transaction in the near future will not lead to a significant increase in the group’s share of Hyundai in the Russian market. The petition of LLC “Hyundai Motor manufacturing Rus” FAS Russia granted without charge by the authorities of any restrictions or conditions to the parties to the transaction,” said state Secretary – Deputy head of FAS Russia Andrey tsarikovskiy.
He also noted that direct production facilities that are the subject of the transaction (the plant in Shushary, St. Petersburg), at the discretion of the group GM has been preserved since the second half of 2015, when General Motors announced the departure from Russia after 20 years of market presence. “The acquisition of appropriate facilities, will contribute to a “restart” automobile plant, and will also have a positive effect on the process of localization of production of vehicles in Russia”, – said Andrey tsarikovskiy.
According to the Committee automakers Association of European businesses, in July sales of new Hyundai cars in the Russian market amounted to 13.4 thousand units (18% less than the previous year). This brand is in third place after Lada (28 thousand units for July 2020) and KIA (17 thousand cars).
