Honda suspends motorcycles, cars sales in Russia: Report
Honda has declared that it will pause the export of its cars and motorcycles to Russia, according to a report by broadcaster NHK. Honda joins the list of top auto companies that have come up with such declarations. Other automakers including Ford, Volvo, General Motors, Harley-Davidson and Daimler Truck have also announced the suspension of their business in the country after it invaded Ukraine.
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(Also read | From Harley to Volvo, auto brands slam brakes on Russia)
Ford too announced on Wednesday that it will suspend its operations in Russia with immediate effect and will take action to support the Global Giving Ukraine Relief Fund. Ford CEO Jim Farley took to Twitter to release the company's statement. “The situation has compelled us to reassess our operation in Russia. Given the situation, we have today informed our JV partners that we are suspending our operation in Russia, effective immediately, until further notice," he added.
Auto companies such as General Motors and Volvo were the first automakers to announce the temporary suspension of their operation in Russia. In a statement, General Motors said in the current the loss of life is a tragedy and it is deeply concerned about the people in the regions. Volvo's released a similar statement to attribute its suspension move. AB Volvo also has suspended its production of trucks in the country. Volvo sells around 9,000 vehicles and GM sells around 3,000 vehicles in Russia.
Truck manufacturer Daimler has also put its business in Russia on hold and is contemplating its partnership with Russian truck maker Kamaz. As per Handelsblatt newspaper, Mercedes-Benz Group is looking to divest its 15 per cent stake in Kamaz as soon as possible.
(With inputs from Bloomberg)