General Motors joins other automakers such as Volvo! Volkswagen! Daimler Truck and Ford in stopping sales in Russia. Volvo was the first automaker to respond in this way to Putin! citing the risks of trading equipment with Russia and Western sanctions.
“Our thoughts are with the Ukrainian people at this time. The loss of life is a tragedy and our primary concern is the safety of people in the region!” General Motors said in a statement.
No General Motors plant in Russia
>The Detroit automaker has not had a manufacturing plant in Russia since late 2019! but it does have a sales team in Moscow dedicated to the country. About 3!000 General Motors vehicles are sold in Russia each year.
GM has little exposure to Russian supply chain
While Russia is a major supplier to the auto industry! General Motors says it has limited stockholder data exposure to the country’s supply chain! but the automaker is currently negotiating with suppliers to mitigate any potential risks.
>Given the low sales volume involved! this is more of an announcement effect future trends in cloud infrastructure automation than anything else. But the reaction of a US manufacturer to the Ukrainian invasion has a strong geopolitical impact.
It is also worth recalling that at the end of 2019! GM sold its Togliatti assembly plant in tongliao phone number list Russia! ending its participation in the once promising Russian car market.
Our opinion! by leblogaut om
The plant! built in 2001! was bought by Avtovaz! the former partner of the joint venture . The joint venture produced Chevrolet Niva cars on Russian territory.
The American automaker’s presence in Russia has been fragile for several years! with GM officials first suggesting in 2015 that they might pull out of the country.
When it opened nearly two decades ago! Russia was in the midst of a transformation following the collapse of the Soviet Union. The country had become one of the fastest-growing car markets in Europe! with a population of nearly 150 million people! many of whom were desperate to buy cars that had been largely out of reach for average citizens under the USSR.
But after booming in the early years of the new millennium! Russian demand began to fall sharply! impacted first by the global recession and then by Western sanctions imposed on Russia.