Volvo suspends car shipments to Russia
Swedish manufacturer cites ‘trading sanctions’ as a key reason behind the decision.
Volvo has suspended the shipment of cars to Russia amid the country’s invasion of Ukraine.
In an email statement sent to Reuters, the Swedish manufacturer said that it would be suspending shipments to the country until further notice. In the process, it becomes the first car maker to do so.
Volvo told Reuters that the decision was made because of “potential risks associated with trading material with Russia, including the sanctions imposed by the EU and US.”
“Volvo Cars will not deliver any cars to the Russian market until further notice,” it added.
A spokesperson said that Volvo supplies vehicles to Russia from factories in Sweden, China and the United States, with around 9,000 cars sold in the country during 2021.
It follows on from AB Volvo – the Swedish truck maker that is independent of the car maker – also stating that it would halt all of its production and sales in Russia due to the ongoing crisis.
Daimler Truck has also suspended its shipments to Russia, issuing a statement saying that the measures would be implemented ‘with immediate effect until further notice’. It added that it was ‘monitoring the situation closely and will review [the] decision regularly’.
