Automakers halt selling vehicles in Russia; Ford joins GM, Volvo and others

From Swedish carmaker Volvo to American car manufacturers GM and Ford, automakers have announced suspension of their business ops in Russia.

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Russia's invasion of Ukraine has got it subjected to economic sanctions from many different countries. The effect of these sanctions can be seen on the Russian economy; joining these sanctions, various automobile manufacturers have decided on putting a halt to their services in Russia.

Starting from the Swedish carmaker Volvo and American car manufacturers GM and Ford have announced the suspension of their business in Russia. The automotive organisations have taken the step because of their concerns about Ukraine. As per the reports similar actions have been taken by automakers like Daimler Truck.

In a statement, the American automaker GM said, " Our thoughts are with the people of Ukraine at this time." Adding to the statement, they also said, " The loss of life is a tragedy, and our overriding concern is for the safety of people in the region."

Adding to it, Ford also announced the suspension of their operations in Russia. The news was publicized through the Twitter handle of Jim Farley, Ford CEO. He also announced their support for the Global Giving Ukraine Relief fund.

The statements from Ford's announcement said, " Ford is deeply concerned about the invasion of Ukraine and resultant threats to peace and stability. The situation has compelled us to reassess our operations in Russia."

The American automaker announced a sum of $100,000 for the Global Giving Ukraine Relief Fund, in their statement, they said, " Ford Fund is also making a $100,000 donation to the Global Giving Ukraine Relief Fund for humanitarian aid to assist Ukrainian citizens and families who have been displaced during the crisis.

With inpust from agencies