MOSCOW — The Russian subsidiary of Honda said on Wednesday it would stop providing new vehicles to formal dealers in Russia in 2022 as portion of the firm’s initiatives to restructure its functions.
The enterprise said it would hold its existence on the Russian sector with motorcycle and power machines profits, and retain its functions related to the right after-profits company of its automobiles.
Honda, which has no vegetation in Russia not like other Japanese carmakers such as Toyota and Nissan, offered seventy nine automobiles in Russia previous thirty day period, a fifty% fall from a yr previously, according to the Association of European Businesses.
Its profits from January to November were being down fifteen% to 1,383 automobiles.
A lot more than 1.3 million new vehicles were being offered in Russia in the course of that period of time.
Associated Online video: