GM, Ford suspend Russia production

2009-07-01 11:33:02 -

MOSCOW (AP) - U.S. car companies General Motors and Ford say they are suspending operations on their production lines in Russia because the economic crisis is squeezing consumers' demand for new cars.
General Motors Corp. said its brand new plant outside St. Petersburg will halt manufacturing until August 31.
Meanwhile, Ford Motor Co. is shutting its factory there until July 13.
Before the crisis Russia was on its way to becoming Europe's largest car market. But soaring unemployment and tighter credit now mean fewer people can buy them.