Mexican Media Brands
SsangYong Motor Suspends Shipments to Russia
South Korea's SsangYong Motor Co. says it stopped shipping cars to Russia in January and won't resume until the ruble stabilizes, Reuters reports.
#economics
Share
South Korea's SsangYong Motor Co. says it stopped shipping cars to Russia in January and won't resume until the ruble stabilizes, Reuters reports.
The company's sales in Russia last year fell 27% to 25,000 units, according to the Moscow-based Assn. of European Businesses. Volume plummeted 61% to only 1,300 vehicles in January-February 2015.
SsangYong slipped into receivership in 2009 before Mahindra & Mahindra Ltd. acquired a 70% stake in the company in 2011. Reuters notes the company's operating loss last year jumped to 77 billion won ($69 million) from 9 billion won in 2013.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .