Mexican Media Brands
PSA, Mitsubishi Trim Production in Russia
PSA Peugeot Citroen and Mitsubishi Motors are the latest carmakers to suspend production in Russia in response to the country's sagging economy and shrinking car market.
#economics
Share
PSA Peugeot Citroen and Mitsubishi Motors are the latest carmakers to suspend production in Russia in response to the country's sagging economy and shrinking car market.
Both companies share a kit assembly plant in Kaluga. PSA tells Automotive News Europe the two-week shutdown, which begins today, was revealed to employees in December.
The three-year-old Kaluga plant makes Citroen C4 and Peugeot 408 cars and Mitsubishi Outlander and Pajero Sport SUVs.
The facility has capacity to assemble 125,000 vehicles per year. Last year Mitsubishi's sales in Russia rose 2% to 80,100 units, but PSA's volume fell 34% to 41,200 units, according to the Moscow-based Assn. of European Businesses. January sales in the country plunged 75% for PSA and 36% for Mitsubishi.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
GM’s Mobility Vision
1. Zero crashes 2. Zero emissions 3. Zero congestion This vision leaves out a very important element: economics.