Volvo Cars mentioned it should droop automobile shipments to the Russian market till additional discover, changing into the primary worldwide carmaker to take action as sanctions over Moscow’s invasion of Ukraine proceed to chunk.
Volvo mentioned the choice had been made due to “potential dangers related to buying and selling materials with Russia, together with the sanctions imposed by the EU and US.”
“Volvo Vehicles is not going to ship any automobiles to the Russian market till additional discover,” the corporate mentioned in a press release on Monday.
A Volvo spokesman mentioned the carmaker exports autos to Russia from vegetation in Sweden, China and the U.S.
Based on business figures, Volvo offered round 9,000 automobiles in Russia in 2021.
Earlier on Monday, the RIA information company mentioned Volkswagen has quickly suspended deliveries to native dealerships of automobiles already in Russia. The information company cited a VW assertion.
Swedish truck maker AB Volvo mentioned it had halted all of its manufacturing and gross sales in Russia as a result of Ukraine disaster.
German truck maker Daimler Truck additionally mentioned on Monday it could freeze its enterprise actions in Russia with speedy impact, together with its cooperation with Russian truck maker Kamaz.