A local Russian company, AGR, which acquired Hyundai Motor’s former plant in Russia, is seeing explosive growth in the domestic auto market with its newly launched brand, Solaris. In April, Solaris sales surged by 131%, placing the brand among the top 10 best-selling cars in the country.
Notably, Solaris is essentially a revival of Hyundai’s former strategic model for the Russian market — the Accent. This has led to speculation that its success could serve as a barometer for Hyundai’s potential reentry into the Russian market.
According to data released on May 11 by the Association of European Businesses (AEB), Solaris sold 2,298 units in Russia in April — a 131.0% year-over-year increase — ranking 10th in brand sales.
The top spot was claimed by domestic brand Lada, which sold 28,486 units, despite a 32.6% decline compared to the same period last year.
Strikingly, Chinese automakers have almost completely filled the void left by Hyundai and Kia. In April, eight of the top 10 best-selling automotive brands in Russia were Chinese.
Among them, Haval and Chery ranked in the top three, selling 12,925 (-11.4%) and 10,855 (-15.6%) units, respectively. They were followed by Geely (6,664), Changan Auto (4,621), Belgee (3,902), Jetour (3,165), Exeed (2,881), and Omoda (2,619). Apart from Lada and Solaris, the top 10 list was completely dominated by Chinese brands.
While the Russian auto market remains in a deep slump, Hyundai’s potential return is cautiously being discussed. In April, total new vehicle sales in Russia dropped to 102,107 units — down 25.5% from a year earlier.
Hyundai executives are closely watching the performance of Solaris, often dubbed the “Russian Hyundai.” The brand was created after local firm AGR took over Hyundai’s St. Petersburg plant and began selling rebadged versions of Hyundai’s previous models.
Speculation over Hyundai’s reentry has intensified following reports that the company has not only retained the “HYUNDAI” trademark in Russia but has also registered new trademarks. Local media have interpreted these developments as possible groundwork for a return to the market.
When Hyundai exited the Russian market, it reportedly included a “buyback” option that would allow the company to repurchase its assets within two years. Nonetheless, Hyundai has taken a cautious official stance on the matter, citing the prolonged Russia–Ukraine war, Western sanctions, and a drastically reshaped market environment.
An industry official noted, “Given Hyundai’s historically strong market share in Russia, the buyback clause and trademark registrations suggest a potential comeback cannot be ruled out.” However, they added, “Considering the current political and economic instability, along with intensified competition, any decision will require careful strategic planning and evaluation.”
