Western automakers are giving up on Russia. Half a decade ago, Russia was seen as a vast growth opportunity. The US market had been weakened by the financial crisis, and Europe looked limited. All the major car makers wanted to get in on the action. But in early 2015, the Russia market is falling apart. Last year, Ford took a big hit on its Russian sales goals. The impact on the company’s stock was swift and merciless. Now General Motors has announced that its Opel division will exit the plunging Russian autos market and abandon production its plant in …read more
Source: Business Insider
