The four western carmakers most involved in Russia say they are not canceling projects because of the ruble crisis.
'We won't go home and wait until the economy is in a better situation,' said David Herman, GM's vice president in charge of Russia and the newly independent states.
GM is still negotiating a deal to build the Opel Astra with AvtoVAZ, Russia's biggest auto manufacturer, Herman said in a telephone interview from the Moscow auto show.
'Our manufacturing plants would not begin until two to three years from now,' said Herman. 'We have to make sure we don't come in too early and that our break-even point is at a low enough volume.'
Fiat's plan to build cars with AvtoGAZ 'is a long-term one and in this light, our activities will continue,' said Fiat SpA's Managing Director Paolo Cantarella. Renault said its venture with Moskvich in Moscow is unaffected.
Ford Motor Co. is continuing negotiations to build a plant near St. Petersburg.
Russian government officials last week were telling the press that Ford would break ground on the project in October, but Ford said they were wrong.
A Toyota spokesman said executives were 'still studying our business opportunities in Russia and nothing has been decided yet.' Toyota wants to build a kit-assembly plant for trucks in Russia.
Mark Bursa and Luca Ciferri contributed