The Impact of the Sanctions and Crisis on the Automotive Industry in Russia
In many countries auto industry is a strategic sector of the economy, representing, together with related industries and supporting part of the national industry, providing employment and implementing the technological capabilities of the country. The present study focuses on the description of the impact of sanctions on the development of the crisis, the automobile industry, car manufacturers and the market of cars of Russia. As a result, US and EU sanctions against Russia among the first to pass the sanctions hit the country´s automotive industry. During the period of sanctions Russian car market is characterized by falling sales and reduced production. Sanctions crisis has affected the entire chain from production to bring the car to the final consumer — the drop in demand for cars in the domestic market and reduction of vehicle production; the decline in production was achieved by the suspension or closure of plants, which affected the social sphere, increasing unemployment and reducing the incomes of workers and automotive professionals. Thus, the article examines the impact of the sanctions impact of the crisis on the enterprise on production of cars, as well as trade in cars in the Russian market.