Car Manufacturers react to the Russian invasion of Ukraine
Undoubtedly when the West applied economic sanctions to Russia due to their illegal invasion of Ukraine, we knew that Europe would also be affected.
9 days into the war and we're starting to see the impact of the devastation affecting the car industry. An industry still suffering from the disruption caused by the pandemic with the delay of semiconductor chips, whilst we're sure that there's further devastation and disruption ahead, we're unsure of the exacting levels at this time.
Many manufacturers that build vehicles in Russia have halted production including Volkswagen, Ford and Toyota. Brands such as the Volkswagen group, Honda and BMW have halted all sales in Russia, partly due to the West's sanctions. Given China's alliance with Russia it's expected that China will export more Motors to Russia.
Eliminating the Russian market completely, we turn towards Ukraine who we stand with. They've had to close their manufacturing plants who supply parts to the motor industry across many manufacturers. They supply vital parts to a number of European car manufacturers, which has consequently meant that production of some electric cars on lease that we offer have has to be halted.
We stand with Ukraine and hope for a peaceful conclusion, we expect further disruption to further models to be released so urge customers to look towards in stock lease deals or be prepared to be patient and wait for their car lease to arrive into stock.