As the price of oil and gas sinks to below $50/barrell, so does Russia’s economy. The former Soviet state, highly dependant on oil and gas revenues for growth, is expected to experience economic shrinkage between 3.4 and 6 percent this year. That isn’t good if you’re doing business in rubles and some automakers are beating a hasty retreat.

Not Mazda.

Like Ford and Hyundai-Kia, Mazda is sticking it out in Russia with their manufacturing partner Sollers (which is also the manufacturing partner of Ford since 2011). The two have just signed a Memorandum of Understanding to begin assessing a new engine plant in the country.

(Read More…)

Amid a weakening, unstable ruble, General Motors will suspend production at its St. Petersburg, Russia plant from mid-March through mid-May 2015.

(Read More…)

With the Russian ruble experiencing a near collapse in value, multiple OEMs have decided to suspend sales of its vehicles in Russia.

(Read More…)