Volvo Cars mentioned it’ll droop automobile shipments to the Russian market till additional discover, turning 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 vehicles 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 crops in Sweden, China and the U.S.
In line with business figures, Volvo bought round 9,000 vehicles in Russia in 2021.
Earlier on Monday, the RIA information company mentioned Volkswagen has briefly suspended deliveries to native dealerships of vehicles 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.