Several European automakers announced on Monday that they would stop shipping venicles and parts to Russia in protest of its invasion of Ukraine.
Volvo Cars announced that it would freeze shipments of vehicles to Russia, saying in a statement that shipping to Russia came with "potential risks associated,” especially with the United States and the European Union imposing sanctions, Reuters reported.
"Volvo Cars will not deliver any cars to the Russian market until further notice," said Volvo, which is headquartered in Sweden but owned by Chinese multinational Geely.
A Volvo spokesperson told Reuters that the company ships vehicles to Russia from auto plants in the U.S., Sweden and China.
According to Autostat Analytic Agency, there is a high level of demand for Volvo in Russia. Russian Volvo dealers sold over 9,000 vehicles in 2021, an increase of 13.2 percent from 2020.
On Monday, Volkswagen announced that it would temporarily halt shipping cars to Russia. This includes temporarily stopping the deliveries of cars already in Russia to dealerships, RIA news agency reported.
Volkswagen was forced to stop production at two German factories in recent days after being unable to get parts produced in Ukraine.
Daimler Truck and Mercedes-Benz Group AG said in a statement on Monday that it would be cancelling truck component shipments to Russia.
“In view of the events of the last few days we have decided to discontinue our business activities in Russia with immediate effect until further notice,” Daimler said. “We are closely monitoring the situation and will review our decision regularly.”
Last week, French automaker Renault and tire manufacturer Nokian also made production changes at their factories due to the war in Ukraine.