Japan, Russia and Turkey have warned the United States about potential retaliation for its tariffs on steel and aluminum, the World Trade Organization said on Tuesday, bringing the total U.S. tariff bill to around $3.5 billion annually.
Russia is considering providing support to some of tycoon Oleg Deripaska's businesses, including GAZ Group, which is Russia's biggest van maker as well as a contract manufacturer that builds models for the Mercedes, VW and Skoda brands in Nizhny Novgorod.
President Vladimir Putin traveled to his inauguration for a new six-year term in a Russian-made limousine, ditching his old stretch Mercedes to send a patriotic message of self-sufficiency amid increased tensions with the West.
Russia's biggest automaker, AvtoVAZ, said its annual net loss narrowed to 9.7 billion rubles ($171 million) last year from a loss of 44.8 billion rubles in 2016, helped by cost cuts and the recovery of the Russian car market.
Renault's bet on subcompact sales rising in Russia rather than following rivals into the compact sector was one a good move, said product planning chief Bruno Ancelin in an interview with Automotive News Europe.
Russia's strengthening auto market is good news for automakers such as Renault-Nissan and its Russian subsidiary AvtoVAZ, as well as Hyundai and sister brand Kia. These three dominant players are poised to profit most from the market's rebound.
PSA will start production of Peugeot Expert and Citroen Jumpy vans at its plant in Kaluga, Russia, as the automaker seeks to increase sales in the Russian market, which is rebounding from a deep slump.