Global Automakers Boycotting Russia
With Russia’s invasion of Ukraine prolonged, global automobile manufacturers are declaring a boycott of Russia one after another. Hyundai Motor Group is under pressure to join the boycott. The group postponed its plan to resume the operations of its Russian plant on March 9.
Ferrari and Lamborghini declared a suspension of their sales in Russia, according to BBC and other media outlets on March 8 (local time). Japan’s Nihon Keizai reported on the same day that Nissan Motor Corp. woud suspend the operations of its plant in St. Petersburg, Russia as soon as possible. The factory produced more than 45,000 cars in 2021. Toyota shut down its Russian plant on March 4.
In addition, 15 carmakers have joined a suspension of exports and sales to Russia. They include General Motors, Mercedes-Benz, BMW, Volkswage, Citroen, Mazda and Honda.
Hyundai Motor Group, the world’s fourth-largest automaker, is also pondering the matter. Hyundai Motor and Kia sold 377,614 units in Russia in 2021, ranking second after Renault-Nissan Group. Russia accounts for around 6 percent of Hyundai Motor Group’s global sales.
The group's local factory is going through disruptions in operations. Hyundai Motor Co. was scheduled to restart its St. Petersburg plant in Russia on March 9 but put the plan on hold. The restart date has yet to be fixed.