Talks for lifting U.S. sanctions on Russian automaker GAZ remains ongoing with the U.S. Treasury Department, and the company is implementing internal measures to support the process, Russian Finance Minister Anton Siluanov stated. The U.S. Treasury broadened a deadline for investors to divest from GAZ to March 7, a day following the announcement that it
South Korea-based automaker Hyundai Motor expects growth in the Russian auto market to reduce significantly in 2019, the head of its Russian branch said on Monday. Automakers have warned Russia’s strategy to raise value added tax in next year would hit vehicle sales, which have recently just started to recover from four years of stagnation.
Japanese automaker Nissan Motor will recall 106,340 Nissan cars in Russia, Russia’s technical security watchdog Rosstandart stated on Wednesday. Rosstandart stated the recall would impact Nissan Almera, Nissan Teana, Nissan Pickup, Nissan Tino, Nissan Patrol, Nissan Terrano II and Nissan X-Trall models produced from February 19, 2001 to November 28, 2012. The recall is to
In case you have yet to notice, the Russian Federation is dealing with a very big issue at this moment. The currency used in the country, known as Ruble, has dropped significantly in terms of value. Even though it may sound quite unbelievable, the value of Russian Rubles has dropped by at least 40% ever