Honda suspends exports to Russia, more Japanese automakers could follow
Source: reuters.com
Honda Motor (7267.T)said on Wednesday it has suspended exports of cars and motorcycles to Russia, signalling the likelihood more Japanese automakers would join the global swell of companies halting business with Russia after the invasion of Ukraine.
Western companies have spurned Moscow following the invasion, stopping sales in Russia and even saying they would exit investments there. Ford Motor (F.N) and other global automakers have already said they would suspend operations.
But the response of many Japanese firms has been more muted so far. Honda had suspended exports to Russia as of Wednesday, a spokesperson said, without elaborating when the suspension took effect.
The spokesperson said difficulty in shipping vehicles and making payments was the reason for the suspension. The automaker does not have factories in Russia, where it sold 1,406 cars in the 2020 financial year.
Read more: https://www.reuters.com/business/autos-transportation/honda-suspend-automobile-motorcycle-exports-russia-nhk-2022-03-02/
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