News
A German Importer Of Russian Automobiles Declares Bankruptcy
Lada Automobile GmbH, based in Buxtehude, a German importer of Russian Ladas that has run into financial problems, has filed for bankruptcy.
Since the company was unable to find a new investor, this ends the Russian brand’s more than 50 years of existence on the German market, reports the t-online portal.
Operations in Buxtehude have been suspended for several months. The company until recently employed around ten people, according to the German portal.
Already at the end of 2019, the Russian manufacturer suspended official exports to Europe as the EU tightened its emissions regulations. The importer in Buxtehude then imported the Terracan “Niva” into Germany as a gray import and sold it under the names “Lada 4×4” and “Lada Taiga”.
Although the cars were of poor quality, they were extremely cheap, the portal states.
When the war broke out in Ukraine and the embargo against Russia came into effect, this possibility also collapsed, and new vehicles and spare parts were practically unavailable.
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