General Motors will suspend vehicle exports to Russia following the invasion of Ukraine. This decision follows the application of US sanctions against the country.
“Our thoughts are with the people of Ukraine at this time,” a GM spokesperson told Carscoops in a statement. “The loss of life is a tragedy and our overriding concern is the safety of people in the area.”
The automaker joins Volvo and others in suspending exports to the country. General Motors no longer operates manufacturing plants in Russia after selling its stake in Avtovaz, which is now owned by Renault. However, it operates a national sales company for the Russia and CIS markets with vehicles sourced from North America and South Korea.
Also read: Volvo Cars And Trucks suspends sales to Russia following invasion of Ukraine
The US government announced today that it is imposing tougher sanctions on Russia’s central bank and other sources of wealth. The sanctions are just the latest in a series of escalating actions taken against Russia after it launched military action last week.
“Our goal is for the Russian economy to shrink if President Putin decides to keep moving forward with an invasion of Ukraine, and we have the tools to keep doing that,” a senior official said on Monday. US administration official. Reuters.
General Motors, meanwhile, maintains it has limited supply chain exposure and is working to mitigate any potential risk to its business and employees. Volkswagen said today that it is suspending delivery of vehicles to dealerships for the time being.
“Deliveries are to resume as soon as the effects of the sanctions imposed by the European Union and the United States have been clarified,” a VW spokesman told Reuters.
VW and Renault were forced to announce production breaks this week. As companies monitor developments in the country.
Last week, Nexta.tv tweeted that GM was among a series of automakers that would suspend shipments to Russia. So far, GM is the only one to confirm this report to us.
❗️Audi, Jaguar Land Rover, BMW, Mercedes-Benz, Citroën and General Motors have suspended car shipments to #Russia.
– NEXT (@nexta_tv) February 25, 2022