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Automakers suspend some business in Russia following invasion

These Russian GAZ Tigr infantry mobility vehicles were destroyed by Ukrainian fighters in Kharkiv on Monday. (Getty Images)   Global auto and truck makers, including Sweden's Volvo Cars and Germany's Daimler Truck, on Monday suspended some business in Russia following that country's invasion of Ukraine. Russian forces invaded Ukraine last week, marking the biggest attack by one state against another in Europe since World War II. Many firms have idled operations in Russia following Western sanctions against Russia. Energy giant BP Plc, Russia's biggest foreign investor, abruptly announced over the weekend it was abandoning its 20% stake in state-controlled Rosneft at a cost of up to $25 billion. On Monday, Swedish automaker Volvo Cars said it would suspend car shipments to the Russian market until further notice, becoming the first international automaker to do so as sanctions over the invasion continue to bite. In a statement, the company said it had made the decision because of "potential risks associated with trading material with Russia, including the sanctions imposed by the EU and US." "Volvo Cars will not deliver any cars to the Russian market until further notice," it said. A Volvo spokesman said the carmaker exports vehicles to Russia from plants in Sweden, China and the United States. This came as Russia warned Sweden and Finland not to join NATO or risk facing “serious military-political consequences." Volvo sold around 9,000 cars in Russia in 2021, based on industry data. Earlier on Monday, RIA news agency reported Volkswagen had temporarily suspended deliveries of cars already in Russia to local dealerships, citing a company statement. VW had no immediate comment when contacted by Reuters. VW previously said it would halt production for a few days this week at two German factories after a delay in getting parts made in Ukraine. Daimler Truck said on Monday it would freeze its business activities in Russia with immediate effect, including its cooperation with Russian truck maker Kamaz. Mercedes-Benz Group is also looking into legal options to divest its 15% stake in Kamaz as quickly as possible, the Handelsblatt newspaper reported. A Mercedes spokesperson told Reuters business activities would have to be re-evaluated in light of the current events. Mercedes-Benz Group, formerly Daimler AG, was the parent company of Daimler Truck before the truck maker was spun off.

Daimler cutting Mercedes and Smart prices by 18% in Switzerland

Automakers including Daimler and PSA are now offering substantial discounts in Switzerland to make it more affordable for Swiss customers to buy their cars, according to the latest from Bloomberg. The move, instituted by two of Europe's largest automakers, comes in response to the surprise decision last week by the Swiss National Bank to suddenly abandon its longstanding policy of capping trading of the Swiss Franc to 1.20 francs per euro. The policy has sent the value of the franc soaring, making imports into Switzerland less expensive while increasing the value of its exports. The discounts being offered by the automakers could therefore be viewed more as price adjustments to better match the changing currency value rather than an actual incentive. But whichever way you look at it, a new Mercedes or Smart will now cost Swiss buyers 18 percent less than the list price, while Peugeot and Citroen dealers in the Confoederatio Helvetica are chopping 1,000 francs ($1,144) off the price of a new passenger car or 1,500 francs ($1,716) for a new commercial vehicle. Conversely, high-end Swiss watchmakers like Rolex and Patek Philippe are looking at increasing their prices to keep up with the currency fluctuation, particularly in Japan, where the yen has dropped 17 percent against the franc in the past few days. News Source: BloombergImage Credit: Sandro Campardo/Keystone/AP Mercedes-Benz smart Car Buying Citroen Peugeot switzerland

2016 Mercedes C-Class Coupe offers S-Class style on a budget

This is the new Mercedes-Benz C-Class Coupe and it's the new best-looking vehicle in the small, luxury, sport coupe market. Bold praise, you say? Well, check out the live photos up top and let us know if you still disagree. As previously mentioned, the C-Class Coupe uses the same tactic as its four-door brother, aping the look of the flagship S-Class, but on a smaller, far more affordable scale. That means the same bold but sophisticated front fascia, slim, horizontally oriented taillights, and strong character line as the S-Class Coupe. It's a similar deal in the cabin, where Mercedes stuck with the aluminum and leather-heavy styling of the S-Class. It's a handsome cockpit for sure, complete with a meaty, flat-bottomed steering wheel and prominent display atop the dash. Although like its big brother, those backseats are there more for show than anything else, thanks to that plunging, fastback-like roofline. Expect the engine options on the C-Class Coupe to mirror those on the four-door sedan, with a base 2.0-liter, turbocharged four-cylinder, a twin-turbocharged V6, and eventually, a range-topping, fire-breathing C63 AMG. You can guess which one we're most eager to drive. Rear-wheel drive should be standard, although expect Mercedes' popular 4Matic all-wheel-drive system to be a popular option. Seven-speed automatic transmissions should be the order of the day, while the C63 will get some incarnation of the brand's AMG Speedshift line. As we suggested at the beginning of this story, you should check out our full gallery of photos direct from the floor of the 2015 Frankfurt Motor Show.