The German carmaker shuts down its factories in Russia.
(Photo: Bloomberg)
Dusseldorf Volkswagen stops doing business in Russia because of the Ukraine war. The company announced on Thursday that production at the Kaluga and Nizhny Novgorod sites will be suspended until further notice. Vehicle exports to Russia will also be stopped with immediate effect.
“With the extensive interruption of business activities in Russia, the Group Management Board is drawing the conclusions from the overall situation, which is characterized by great uncertainty and the current upheavals.”
The entire Central/Eastern European region is an important sales market for the world’s second-largest car company after Toyota. In 2021, all brands delivered almost 660,000 vehicles there. The core brand sold around 206,000 new cars in the Central and Eastern European markets last year.
It was only on Wednesday that Mercedes-Benz announced that it would stop exporting cars to Russia and stopping local production.
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