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Production Cuts Widen in Russia
At least three more carmakers are reducing production in Russia as continuing economic pressures hurt demand for new vehicles.
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At least three more carmakers are reducing production in Russia as continuing economic pressures hurt demand for new vehicles.
The Nikkei reports that Mitsubishi Motors, PSA Peugeot, the Renault-Nissan alliance and Toyota all are trimming output in the country.
Other companies that have announced cutbacks are AvtoVAZ, Ford, General Motors and Volkswagen.
Car sales in Russia fell 13% in the first nine months of 2014. Demand plunged 23% in July, 26% in August and 20% last month, according to the Moscow-based Assn. of European Businesses.
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