General Motors leaves Russian market for good
American auto concern General Motors (GM), which also produces electric vehicles, has decided to leave the Russian market for good due to US and international sanctions following Russia’s invasion into Ukraine in February, Kallanish notes.
"Due to the crisis in Ukraine and resulting US and international sanctions, GM is taking further actions to extend the suspension of operations in Russia," says the company’s spokesman George Svigos. “The company has no longer any manufacturing plants in Russia.”
In February, General Motors has already suspended the export of cars to Russia and new wholesale sales to Russian dealers until further notice.
Dealers in Russia have already received a notice to stop deliveries of cars and spare parts, which are actually prohibited by US sanctions. GM has also dismissed employees from its Russian office, according to Russian newspaper Kommersant.
On 11 March, “luxury cars” from the United States were banned from exporting to Russia. After GM curtailed local production in the country in 2015 amid the annexation of Crimea, the concern focused on the premium segment of the Russian market with the help of the Cadillac brand and American Chevrolet models.
On Monday, Stellantis, which owns the brands Peugeot, Citroën and Opel, officially announced it is suspending the work of its plant in Russia.
More than 20 foreign carmakers have suspended production or left the Russian market since Russian forces invaded Ukraine on 24 February and sanctions were imposed against Russia.
The vast majority of Russian car factories are idled due to the rupture of supply chains due to the situation around Ukraine, according to Russian analytical agency Autostat. At present, the production of cars is carried out at only four enterprises - the Ulyanovsk Automobile Plant (UAZ), Haveil Motor Rus, Mazda Sollers and Avtotor.
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