Mexican Media Brands
UPDATE: Audi, GM, JLR Suspend Sales in Russia
Audi, General Motors and Jaguar Land Rover have temporarily halted vehicle sales in Russia to avoid the economic impact of the collapsing ruble.
#economics
Share
Audi, General Motors and Jaguar Land Rover have temporarily halted vehicle sales in Russia to avoid the economic impact of the collapsing ruble.
Audi and GM suspended sales on Dec. 16. Audi says it will resume after adjusting vehicle prices. GM has not indicated when it will relaunch sales in the country. JLR, which halted sales operations on Dec. 17, expects to restart activity next week.
The ruble has dropped more than 40% in value since June. The decline sparked a surge in car sales as Russians converted cash into tangible property. But the drastically weaker ruble has hurt the value of each sale for foreign carmakers.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.