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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.
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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.
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