Honda Motor Co. has suspended car and motorcycle exports to Russia, joining a growing list of international companies that have decided not to do business with Russia after its invasion of Ukraine. Honda made the decision due to distribution and financial challenges, according to Misako Saka, a spokesperson for the company. She stated that whenever the situation returns to normal, it would start shipments.
Apple Inc. and Nike Inc. join Exxon Mobil Corp. in revealing plans to cease selling products in Russia on Tuesday, while United Airlines Holdings Inc. said it would stop flying over Russia for its daily flights to India. Companies all over the world are pulling out of the Russian market as a result of the country's invasion of neighbouring Ukraine, citing human rights concerns as well as logistical issues.
Mazda Motor Corp. is also halting components exports to a plant in Russia, according to the media reports. Honda's halt was first reported by NHK, which cited problems with its distribution networks as a result of the war, as well as concerns about its ability to settle and collect payments due to Russian sanctions.
Despite the reality that Honda does not have a factory in Russia, it exports about 1,500 SUVs to the nation each year from factories in the United States.