This year, the lease agreements for Yandex.Drive are set to expire, which will compel the operator to return vehicles to their owners, a shift reported by Kommersant. Yet the car market remains unusually tight, making fresh acquisitions challenging. Additionally, during the recent crisis, manufacturers paused issuing quotas for car-sharing fleets while leasing companies increased the rates from around 8% to as high as 20%. This combination of supplier constraints and higher financing costs is reshaping the ownership and expansion dynamics for shared mobility players in the region.
Because many leases are ending, Yandex.Drive faces a clear pressure: the need to scale back the size of its fleet. Projections suggest the service could see a reduction of as much as 35% of its vehicles by 2022 if new cars cannot be secured in time. While Major remains the central leasing partner, the crisis period has pushed the company to reassess renewals. In some cases, it has chosen to favor resales of existing fleets or to offer terms that are not favorable for Yandex, complicating the renewal process for the car-sharing platform. The market dynamics at play create a multifaceted challenge that touches both operations and long-term strategic planning.
Securing fresh cars amidst a market downturn is not straightforward. Regional brands like Lada, which are common in the domestic market, may not align well with the demands of intensive car-sharing usage. Vehicles used in shared mobility endure substantial wear, and under such high utilisation, some units reach the end of their life cycle before contract terms can be renewed. This reality underscores the need for reliable supply chains and scalable procurement strategies that can absorb demand volatility.
Another hurdle facing car-sharing operators is the scarcity of spare parts. The reduced availability has already driven prices upward, with costs rising by a notable margin. When the price of essential components climbs, the overall expense of maintaining and renewing a fleet increases, pressuring operating margins and potentially slowing growth plans for shared mobility networks in the region.
Along with higher vehicle costs and the uptick in leasing rates, other operating costs—such as development personnel and travel expenses—are also on the rise. Taken together, these factors can dampen the popularity of car-sharing unless operators adjust pricing, optimize utilization, or secure more favorable financing terms. The evolving economics of fleet management will continue to influence how aggressively providers expand, how quickly they replenish fleets, and how they position their services amid tightening supply and higher cost structures. The broader implication is that consumer access to convenient, low-cost mobility options could be affected if the industry cannot balance affordability with reliable service, at least in the near term.
PS: Yandex.Drive’s press service has not confirmed a potential loss of up to 35% of its fleet within the year. The company notes that a fleet renewal program was launched earlier in the year, but it acknowledges that the car market has shifted significantly in recent months. Returning cars to lease partners is described as a gradual and prolonged process, and ongoing dialogue with partners remains essential. At the same time, a large-scale replenishment of the fleet with new vehicles would currently drive up prices considerably. This information reflects statements from the company and is cited here to provide context on the fleet challenges facing Yandex.Drive and similar operators in today’s market. (Source: Kommersant)