OEMs Suspend Vehicle Sales In Russia Amid Volatile Currency Situation
With the Russian ruble experiencing a near collapse in value, multiple OEMs have decided to suspend sales of its vehicles in Russia.
According to a statement sent to Just-Auto, GM’s Russian arm said
“In view of the volatility of [the] rouble exchange rate and with the aim to manage its business risk, GM Russia has decided to temporarily suspend wholesaling of vehicles to its dealers in Russia as of 16 December, 2014,” said a GM Europe statement emailed to just-auto. At the same time we confirm all Cadillac, Opel and Chevrolet vehicles already purchased by customers will be delivered on the agreed price. We are monitoring the situation.”
Bloomberg is reporting that Audi and Jaguar Land Rover have also suspended sales amid uncertainty in foreign exchange markets. Toyota, Volkswagen are set to adjust their prices in the near future to reflect the new exchange rates.
Russian auto sales have spiked in recent weeks as consumers sought to buy up hard assets to protect against a falling ruble. But the erosion on value of the Russian currency have left several OEMs exposed to currency risks. According to Bloomberg’s report, BMW could stand to lose as much as $135 million dollars due to the recent drop in the ruble.
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This thread is about cars, but 90% of you guys talking about Russia-Putin-politics - amazing.... and sadly 70-80% at least have no idea what are they talking about, because just know ,,100% accurate,, facts from their mainstream media - no matter which country. I for once will talk to subject here - i think this rouble problem is just temporary, already today and yesterday RUB became stronger vs USD and EUR. I think it can help Lada right now, they probably don´t import much components from abroad so they can produce from mostly russian parts and pay in RUB, but we will see when AEBRUS.RU will release new stats for December at 10th or so January. About whole Putin phobia in western countries - it´s called Cognitive dissonance - it means people can´t accept or are discomforted when they need to accept new information which is opposite of their beliefs or what they think is right People here saying there is huge russian PR and progaganda, yes there is, but those same people don´t even realize there is the same anti-russian propaganda in western - so called worldwide - international media i can see this in my country in Slovakia we are EU and NATO country so anti-russian propaganda it´s so sad to see all those articles and ,,facts,, bashing Russia left-right every day at least people here have some knowledge about circumstances and situation, but poor people in the US, they have no alternative media, just anti-russian basically every channel there is is anti-russian, it´s pathetic in every article there is is mentinoed Putin is former KGB spy, i wonder if such thing was always mentioned with Bush senior, when he was US presidenet that he was former CIA operative- director... probably not mentioned each time for obvious reasons,,
This thread is about cars, but 90% of you guys talking about Russia-Putin-politics - amazing.... and sadly 70-80% at least have no idea what are they talking about, because just know ,,100% accurate,, facts from their mainstream media - no matter which country. I for once will talk to subject here - i think this rouble problem is just temporary, already today and yesterday RUB became stronger vs USD and EUR. I think it can help Lada right now, they probably don´t import much components from abroad so they can produce from mostly russian parts and pay in RUB, but we will see when AEBRUS.RU will release new stats for December at 10th or so January. About whole Putin phobia in western countries - it´s called Cognitive dissonance - it means people can´t accept or are discomforted when they need to accept new information which is opposite of their beliefs or what they think is right People here saying there is huge russian PR and progaganda, yes there is, but those same people don´t even realize there is the same anti-russian propaganda in western - so called worldwide - international media i can see this in my country in Slovakia we are EU and NATO country so anti-russian propaganda it´s so sad to see all those articles and ,,facts,, bashing Russia left-right every day at least people here have some knowledge about circumstances and situation, but poor people in the US, they have no alternative media, just anti-russian basically every channel there is is anti-russian, it´s pathetic in every article there is is mentinoed Putin is former KGB spy, i wonder if such thing was always mentioned with Bush senior, when he was US presidenet that he was former CIA operative- director... probably not mentioned each time for obvious reasons,
VVK's Southwest/Mexico analogy is disingenuous. The vast majority of the people of the Crimea wanted to be in Russia. It was a Russian area that an illegitimate (ie Communist Kruschev) "gave" to the "Soviet Republic of Ukraine". Putin was right to take it. Russians are overwhelmingly Orthodox. Ukranians are split between Roman Catholicism and Eastern Orthodox (though who know how many observant ones of either...). Granting VVK's point that the Ukraine is the cradle of Russia, if the are "more Russian than Russians", they should not have seceded during the break-up. They did. If the Russian speaking minority (and my understanding is that Russian and Ukranian are very close languages) wishes to join the mother country, why not? The Ukraine owes Russia a lot of money. The reality is, the same big financiers who brought us the 2008-9 Financial Crisis/Recession/Depression see a chance to add even more lucrative debt to a hurting country. They largely dictate US financial policy (did Obama touch Wall St? No. Would Romney? No. Hillary? No.), and have mobilized the US Govt to further their aims. Easy money has made the 0.1% incredibly wealthy, while making lives for most Americans more difficult, and making lives for Southern Europeans, who like heroin addicts that took near-free easy dope (debt), almost unbearable. Putin is right not to go along, and not to be pushed around. He can make life very difficult for us--we need the Russians help to resupply our troops in Afghanistan, since we can't go thru Iran or Paki. Maybe Putin will do as a favor and cut us off, so we can get out and save lives and money. Nixon managed to pry China and the USSR apart, to the USSR's detriment. The US govt will push them together, to our detriment. Russian energy for Chinese finished goods. It's not smart for the US--at least not for the 99.9% who won't make tens of billions of exotic financian instruments that they don't understand. It may be good for defense workers and defense companies. Of course, that won't help with our crumbling roads or whopping entitlement payments...
The Imperial Russian/Soviet Black Seas Fleet has been based out of Crimea since 1783. This would not have happened in Crimea was not considered Russian territory by St. Petersburg/Moscow. Finland was part of the Swedish Empire until 1809 and both it and the modern state of Poland did not exist until 1918 (Poland having existed twice before in the previous thousand years and being partitioned) Seward's Folly took place in 1867, thus the establishment of the BSF predates all three things you cited and predates Alaska and the Finnish Duchy of the Russian Empire in 1810 (one could make arguments about the previous incarnations of Poland). "The Black Sea Fleet is considered to have been founded by Prince Potemkin on May 13, 1783, together with its principal base, the city of Sevastopol." http://en.wikipedia.org/wiki/Black_Sea_Fleet "The Alaska Purchase was the acquisition of Russian America by the United States from the Russian Empire in 1867 by a treaty ratified by the U.S. Senate." http://en.wikipedia.org/wiki/Alaska_Purchase "From the late 12th century until 1809, Finland was part of Sweden, a legacy reflected in the prevalence of the Swedish language and its official status. It then became the Grand Duchy of Finland, an autonomous duchy within the Russian Empire, until the Russian Revolution which prompted the Finnish Declaration of Independence." http://en.wikipedia.org/wiki/Finland http://en.wikipedia.org/wiki/Poland