Honda to stop auto sales in Russia by 2022

The Russian subsidiary of Japanese automaker Honda Motor said on Wednesday it would halt the supply of the new cars to official dealers in Russia in 2022 as part of the company’s attempts to restructure its operations.

The company said it would maintain its presence on the Russian market with motorcycle and power equipment sales, and retain its activities associated with the after-sales service of its vehicles.

Honda, which has no plants in Russia, has sold 79 vehicles in Russia last month, a 50% decline from a year earlier, according to the Association of European Businesses.

Its sales from January to November dropped 15% to 1,383 vehicles.

Over 1.3 million new cars were sold in Russia during that period.

Other Japanese automakers such as Toyota and Nissan have plants in Russia.