GM
General Motors is joining a number of other companies in cutting its business with Russia. The Detroit-based automaker announced on Friday that it is halting all exports to the country that is currently invading neighboring Ukraine.
Cutting exports to Russia won't be too expensive for GM, however. GM sells only about 3,000 vehicles a year in Russia through 16 local dealers, according to a company spokesman. That's over 6 million vehicles that the company sells annually worldwide.
GM currently has no factories in Russia, so most of the vehicles it sells there are imported from US factories, while some are imported from South Korea.
"GM is committed to complying with the laws and regulations of the markets in which we do business, including applicable US economic sanctions and export control laws and regulations," the company said in a statement.
GM operates a national sales company for Russia and other former Soviet nations. The automaker said it is halting exports to Russia "until further notice".
In terms of its own parts supply, GM said it has "limited supply chain exposure" and is working to minimize potential disruptions to the supply of its own parts.
"We continue to monitor developments and take steps to implement mitigation strategies as appropriate," GM said in a statement.
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