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Nissan Raises Prices in Russia, Shifts Production
Carlos Ghosn
Nissan Motor Co. has stopped taking new-car orders for some models in Russia as the country's currency continues to weaken.
#economics
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Carlos Ghosn
Nissan Motor Co. has stopped taking new-car orders for some models in Russia as the country's currency continues to weaken.
The company also may raise prices on other models, and it plans to increase imports from Japan, according to CEO Carlos Ghosn. He describes the ruble's decline as "a bloodbath" for all foreign carmakers in Russia.
Russia's currency has dropped about 50% in value since June. Ghosn points out that the weak Japanese yen makes it financially attractive to supply more vehicles for Russia from Nissan's home plants. Currently Nissan locally produces about 70% of the cars it sell in Russia.
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