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GM to Idle Plant in Russia for Two Months
General Motors Co. says it will halt assembly operations at its factory in St.
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General Motors Co. says it will halt assembly operations at its factory in St. Petersburg, Russia, between mid-March and mid-May because of the country's slumping auto market.
GM also is raising prices on vehicles sold in the country to help offset the effect of Russia's weak and unstable ruble.
The moves were first reported by Kommersant. The Russian daily claims the price of GM vehicles in the country has climbed an average 20% in the past two months.
GM's combined sales of Cadillac, Chevrolet and Opel brand vehicles in Russia plunged 26% to 257,600 vehicles last year in a market that shrank 10% to 2.49 million units, according to the Moscow-based Assn. of European Businesses.
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