General Motors, Jaguar Land Rover and Audi have temporarily stopped commercializing cars in Russia.

General Motors, Jaguar Land Rover and Audi have temporarily stopped commercializing cars in Russia.

Russia is currently facing the biggest financial crisis in the last sixteen years as the ruble's value has dropped by more than 40 percent since June. Because of this predicament, in recent weeks Russians have started to make big purchases like new cars as a method to convert their money into something that will hold its value in the future.

Initially, car manufacturers benefited from the sales boom but it eventually blew up in their faces as the ruble's value crumbled so the money obtained from the sales are now significantly less valuable. Rather than making a profit, car companies have started to lose money which is why General Motors has decided on Tuesday to halt sales indefinitely.

As for Audi, they also stopped sales on Tuesday and will restart once a new price list will be established to mirror the ruble's lower value.

Representatives of Jaguar Land Rover have told the media sales have been halted but will restart tomorrow.

Be part of something big