Volkswagen sells Russian assets to car dealer Avilon
Volkswagen Group Rus LLC, the Russian representative office of Volkswagen, has had all of its shares purchased by Art-Finance LLC, a subsidiary of Russian auto dealer Avilon.
According to data from the Russian Unified State Register of Legal Entities, the deal was completed on Monday (May 22). The Avilon subsidiary has acquired Volkswagen's car sales and after-sales service business, the spare parts warehouse and its financial services business in Russia.
In Kaluga, Volkswagen Group Rus LLC has an automobile plant with a 225,000-car annual capacity. It suspended production in 2022.
Russian auto dealer Avilon carries 44 different brands, including Chery, Changan, Haval, FAW, Exeed, Geely, and Voyah from China. In 2021, Avilon sold 36,600 cars, with revenues amounting to 154 billion rubles (US$1.9 billion).