March 19, 2015 / 2:56 AM / 4 years ago

Korea automaker Ssangyong says suspends Russia exports on weak rouble

SEOUL, March 19 (Reuters) - South Korea’s fourth biggest automaker Ssangyong Motor has suspended vehicle shipments to Russia since January, a spokesman said, as the plunging rouble hit demand in its biggest export market.

The SUV-maker, owned by Indian automaker Mahindra and Mahindra, has no plans to resume shipments to Russia until the rouble stabilises, and will boost sales to Europe and China instead, the spokesman added.

Sangyong shipped no vehicles to Russia in January and February after exports slumped 41 percent to 21,258 last year from a record high of 35,753 in 2013, according to data from Korea Automobile Manufacturers Association. (Reporting by Hyunjoo Jin; Editing by Miral Fahmy)

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