The Great Wall company, which owns the Haval brand of crossovers popular in Russia, remains in Russia “for some time”, but at the moment it is thinking about the appropriateness of its investments in Russia.
We must take a comprehensive look at the situation and weigh how we should act in the future. We may need to make some adjustments based on the impact of conflict and sanctions.
CEO Xu Hui
Xu Hui did not specify what changes he was talking about, but added for the second time that Great Wall would remain in Russia “for a while”, after which he would make a decision. It is also reported that demand for Haval vehicles remains even despite falling sales due to the ongoing conflict and the weak ruble. He confirmed that Russia is the automaker’s largest market outside of China.
Citi analyst Jeff Chung called the amount of damage to the Great Wall due to the current situation. It ranges from 6.6 to 7.9 billion rubles.
Source: ixbt
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