Mercedes-Benz Rus

CJSC Mercedes-Benz RUS (formerly DaimlerChrysler Cars RUS), a Russian company with 100% foreign capital, was established on December 8, 1994 as a subsidiary of Daimler AG (at the time of founding -Daimler-Benz AG) in Russia. It became the first foreign automobile company to open in Russia.

The most important areas of the company's activity are the promotion of Mercedes-Benz and Maybach brands on the Russian market through official dealers, the development of after-sales services, as well as the expansion of the dealer network and contacts with regional partners. At the end of 2008, the dealer network consisted of 45 partners in the sale and after-sales service of Mercedes-Benz cars, small-tonnage and trucks.

Performance indicators

2022

Loss of 658m euros due to withdrawal from Russia

In its financial report for 2022, which was released in February 2023, Mercedes-Benz clarified the amount of losses from the curtailment of activities in Russia. According to the document, we are talking about losses of 658 million euros. At the same time, the automaker did not disclose data on what is included in these cash losses.

Deliveries of Mercedes-Benz cars to Russia ceased in early spring 2022. Then the Russian Mercedes-Benz plant was also stopped. Soon, the Association "Russian Automobile Dealers" (ROAD) said that sellers faced problems in servicing cars due to a lack of spare parts. However, representatives of the brand denied the claims and assured that each case will be analyzed individually.

Mercedes-Benz Bank Rus office in Moscow

Since the official supply of cars stopped, dealers tried to arrange the delivery of the necessary models from abroad through unofficial channels. However, soon the European Union introduced new sanctions against cars supplied to Russia - a ban on the sale of models more expensive than $50 thousand.

According to "Авто.ру," resellers had to switch to a scheme with the purchase of used cars from individuals, but difficulties with transferring money abroad made the purchase of Mercedes in Europe extremely inconvenient and expensive. Nevertheless, it still works, but not all buyers are ready to pay and risk large amounts.

In February 2023, Russian President Vladimir Putin allowed Avtodom automobile holding to buy a subsidiary bank Mercedes-Benz. Avtodom received permission to acquire a 100% stake in the authorized capital of Mercedes-Benz Bank Rus, which is owned by Mercedes-Benz Group AG.

Despite losses from Russian business, the company was able to end the year with a net profit of 14.81 billion euros, which is 37% less than a year ago.

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Loss of €709m due to withdrawal from Russia

Mercedes-Benz lost 709 million euros in the first quarter of 2022 alone due to leaving Russia. The German automaker announced this on April 27, 2022 as part of the publication of its financial statements.

As the companies specified, losses of 709 million euros are associated with "adjustment of production activities in Russia." Moreover, it is noted that these and other losses were compensated by income from the sale of part of the business (which one is not specified) in the amount of 918 million euros.

Mercedes-Benz lost 709 million euros in the first quarter of 2022 alone due to leaving Russia.

Mercedes-Benz added that after the start of the Russian special operation in Ukraine, the company stopped the export of cars, vans and spare parts to the Russian Federation, as well as production in the country.

The company is in close contact with suppliers linked to Ukraine to protect supply chains. This work, among other things, involves the transfer of production to other places within the partner network - it was reported.

The risks that the special operation created on To Ukraine were listed in the annual report of Mercedes-Benz in March 2022. Among them are supply chain breaks caused by the coronavirus pandemic, COVID-19 possible interruptions in energy supplies, and even those that cyber attacks became more frequent in the first quarter of 2022.

In early April 2022, the general director of Avtodom Group of Companies (one of the largest car dealers specializing in the sale of premium cars) Andrei Olkhovsky said in an interview with Vedomosti that 50 pieces of each brand remained in warehouses, including Mercedes-Benz. Avilon Mercedes-Benz - the leader in sales of Mercedes-Benz cars, the stocks of the conditional Mercedes-Maybach will last for a month. Director of Avilon Renat Tyukteev said that importers' stocks will last for 2-5 months.

At the end of February 2022, it became known that Mercedes-Benz is exploring the possibility of selling its 15% stake in Kamaz. Cooperation with the Russian company was also suspended by truck manufacturer Daimler Truck. The company will not produce trucks in Naberezhnye Chelny and supply components to Russia as part of the Daimler Kamaz Rus joint venture^[1]

2021: Revenue growth by 43.3% to RUB 274.8 billion

The Russian subsidiary of Mercedes ended 2021 with revenue growth of 43.3% compared to 2020. In absolute terms, sales reached 274.8 billion rubles, and their cost - 251.3 billion rubles (+ 48.9% on an annualized basis). Such data on Russian accounting standards were released to the SPARK-Interfax system in April 2022.

In 2021, Mercedes Benz Rus JSC earned 10 billion rubles of net profit, which is 1.7 times more than a year ago. Gross profit rose by 2.1%, to 23.5 billion rubles. Profit from sales tripled to 11.9 billion rubles. The company's commercial expenses decreased by 55%, to 6.2 billion rubles, managerial expenses grew by 1.9%, to 5.3 billion rubles.

Russian subsidiary Mercedes ended the year with revenue growth of 43.3%

Short-term liabilities of Mercedes Benz Rus JSC as of the end of 2021 decreased by 13.3%, to 34.2 billion rubles. Accounts payable decreased by 4.7%, to 32.5 billion rubles, short-term borrowed funds fell to 169 thousand rubles from 3.2 billion rubles a year earlier.

According to the Association of European Businesses (AEB), sales of Mercedes-Benz passenger cars and light commercial vehicles (including Smart) in Russia in 2021 increased by 10.6% year-on-year, to 48.85 thousand units.^[2]

History

2024: Forland 3, Forland 8 as well as Forland 12 launch

2023

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2022

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