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.

http://www.thetruthaboutcars.com/201...rrency-swings/

Nasol la Putin acasa, se fac simtite sanctiunile economice.