Russian Sanctions May Cripple a Once Promising Car Market

Trappings of war typically include ruthless mass destruction and systemic and deep rooted pain to a country’s economy.

And Russia’s invasion of Ukraine is leading to precisely that. Western nations and their allies have retaliated and imposed targeted sanctions on Russia to curtail its power, and some experts have predicted a near collapse of the Russian economy.

In particular, the region that was once considered a lucrative car market is currently in flux. Global automakers including French car maker Renault  (RNSDF) , Japanese auto major Toyota  (TM) – Get Toyota Motor Corp. Report, U.S. automaker Ford  (F) – Get Ford Motor Company Report and South Korean car giant Hyundai  (HYMLF)  have all halted their respective Russian production units due to the ongoing crisis. 

Source: https://www.thestreet.com/investing/russian-sanctions-may-cripple-a-once-promising-car-market?puc=yahoo&cm_ven=YAHOO&yptr=yahoo