Stock Market Honda to cease auto gross sales in Russia in...

Honda to cease auto gross sales in Russia in 2022

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© Reuters. FILE PHOTO: The emblem of Honda Motor is pictured at on the thirty seventh Bangkok Worldwide Motor Present in Bangkok

MOSCOW (Reuters) – The Russian subsidiary of Japan’s Honda Motor Co stated on Wednesday it might cease supplying new vehicles to official sellers in Russia in 2022 as a part of the corporate’s efforts to restructure its operations.

The corporate stated it might maintain its presence on the Russian market with bike and energy tools gross sales, and retain its actions associated to the after-sales service of its autos.

Honda, which has no crops in Russia not like different Japanese carmakers similar to Toyota and Nissan (OTC:), offered 79 autos in Russia final month, a 50% drop from a yr earlier, in line with the Affiliation of European Companies.

Its gross sales from January to November had been down 15% to 1,383 autos.

Greater than 1.3 million new vehicles had been offered in Russia throughout that interval.

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