Automotive exports from European and American manufacturers may be the next to suffer sanctions by Russia in retaliation for more sanctions imposed upon by the European Union and the United States as a result of the ongoing conflict in eastern Ukraine.
Reuters reports the financial damaged suffered by potential sanctions would vary, with automakers like Mercedes-Benz suffering the most thanks to a lack of local factories in Russia. The move would be in addition to an import ban on food, and was on the table before President Vladimir Putin rejected the proposal.
The automotive ban would give Chinese and Korean manufacturers a chance to make their mark upon a muted market. Western imports made up 27 percent of passenger vehicle sales in 2014 thus far, while trucks and buses took 46 percent and 13 percent of the market.
The post Looming Retaliatory Sanctions Threaten Western Automakers In Russia appeared first on The Truth About Cars.
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