Post Tagged with: "russia"

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Russia: March sales on steep dive

Russia: March sales on steep dive

Once considered as a viable candidate to overtake Germany as Europe’s largest auto market, Russia has seen a stark contrast to the developments on the continent, in the US or China. Last month’s figures for the light vehicle market were the worst in terms of volume and percentage decline over […]

Russia: Ford assumes control of Sollers joint venture

Russia: Ford assumes control of Sollers joint venture

The second largest US automaker recently announced it would assume control over its Russian joint venture with local car producer Sollers and would further invest into the firm as it increases the provided financial support. Russia has been going through an auto market meltdown brought by the dire economical situation […]

Europe: PSA increases production in Slovakia, joint venture with Mitsubishi to cease production in Russia again

Europe: PSA increases production in Slovakia, joint venture with Mitsubishi to cease production in Russia again

PSA Peugeot Citroen’s Slovak business unit is now mulling an increased yearly production that could soar past the 300,000 units mark by 2017 after the company has decided to introduce there a new production model. The French company, the second largest automaker in Europe, has already registered a record production […]

Russia increases auto industry support to $424 million

Russia increases auto industry support to $424 million

The country’s officials have pledged more than 25 billion rubles ($424 million) from state coffers in a bid to subsidy the crippled auto industry, also lifting the pledged aid announced last week. During an auto industry encounter on Monday, Prime Minister Dmitry Medvedev announced the new subsidies will be used […]

Russia: GM and Ford take opposite routes

Russia: GM and Ford take opposite routes

With the country’s economic crisis seeing as persistent throughout at least this year, the first and second US automaker have different strategies on weathering the effects. Ford and GM are known for their troubled European operations, both accounting Russia as a big part of the regional demand. But now all […]

Russia approves $166 million aide to support auto factories

Russia approves $166 million aide to support auto factories

The country will support its internal auto producers with a 10 billion rubles ($166 million) subsidy strategy, according to a recent government announcement, aiming to support the struggling industry that was hit by the economic collapse. The measures announced on Thursday are still widely viewed as insufficient for an industry […]