Honda to stop selling autos in Russia from 2022

On Wednesday, the Russian subsidiary of Honda Motor Co said it would stop supplying new cars to official dealers in Russia in 2022. The move is part of the company’s efforts to restructure its operations.

Honda has clarified that it is not withdrawing from the Russian market at this juncture; it would keep its presence in the Russian market with motorcycle and power equipment and retain its after-sales service of its vehicles.

Unlike its Japanese peers Nissan and Toyota, Honda does not have any plants in Russia. Last month it sold only 79 vehicles in Russia marking a 50% drop from a year earlier, said the Association of European Businesses.

Honda’s sales from January to November 2020 were down by 15% to 1,383 vehicles. During this period more than 1.3 million new cars were sold in Russia.

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

Tags: , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: