General Motors has suspended the delivery of cars to dealerships in Russia in response to a slide in the ruble, the company said Thursday.
“In view of the volatility of ruble exchange rate and with the aim to manage its business risk, GM Russia has decided to temporarily suspend wholesaling of vehicles to its dealers in Russia as of Dec. 16,” GM’s European arm Opel, which is responsible for GM Russia, said in a statement.
It said all Cadillacs, Opels, and Chevrolets already purchased by customers would be delivered at the agreed price, adding it was monitoring the situation.
(Reporting by Jan Schwartz; Writing by Maria Sheahan; editing by Thomas Atkins)
More from Reuters:
- Greek Opposition Leader Says Wants ‘negotiated’ Solution To Debt
- U.N. Launches 2015 Syria Appeal, Focuses On Helping Refugees’ Host Nations
- Mercedes Recalls 4,871 Cars, SUVs In U.S. For Possible Oil Leak
- NYC Subway Extension May Transform Manhattan Neighbourhood
- QSC Shares Jump On Talk United Internet May Buy Network