Manufacturers face 'bloodbath' in Russia, says Renault Nissan boss
The chief executive of Renault Nissan, Carlos Ghosn, has said that manufacturers in Russia are facing a "bloodbath" because of the plunge in the value of the rouble.
The currency has been dropping steadily for several months, but suffered very sharp falls earlier this week.
The two firms have stopped taking orders for some new models and raised prices on others.
Several rival manufacturers have taken similar steps.
However, Mr Ghosn said he was confident the situation would stabilise, eventually.
"We didn't do it [suspend orders] overall, just on some models we said, 'Sorry, until we see where this situation is going we don't take orders,'" he told reporters in Tokyo.
"When the rouble sinks it's a bloodbath for everybody. It's red ink, people are losing money, all car manufacturers are losing money," he added.
Suspension
The French-Japanese Renault-Nissan alliance is a major player in Russia's car industry.
Not only does it sell vehicles under its own brands, it also controls the domestic manufacturer Avtovaz, better known as the maker of Lada cars.
Mr Ghosn said the group had suspended taking orders for some models, this included cars made in Russia, but also those which used large quantities of imported parts. Orders already placed would be honoured, he said.
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