Despite Europes losses, Jim Farley is holding his nerve on Russia

Despite Europe's losses, Jim Farley is holding his nerve on Russia

Media reports in Russia suggest that Ford Sollers is positioning itself in Russia to take full advantage of market exits by a number of brands who are quitting the market due to falling sales and the collapsed rouble.

Ford has said that it is committed to staying in Russia, where it manufactures cars for the local market in partnership with Sollers.

Ford's European chief, Jim Farley, recently told just-auto that Ford believes the Russian market retains good long-term growth prospects in spite of the current severe downturn. "We still feel this [Russia] is going to be a key market down the road. We see Russia as a very important long-term opportunity, but in the meantime we are dealing with reality and adjusting - for example in pricing to deal with inflation," he said at the beginning of the month in Geneva.

Since then, GM has said that it will halt manufacturing in Russia and end Opel brand sales there.

Ford Sollers will reportedly offer additional savings of 50,000 roubles (around US$850) for used car trade-ins of any brand which has terminated its activities in Russia.

Ford Sollers will also consider the expanding of its presence in Russia's regions through cooperation with dealers who are losing brands, reports say.

See also: GENEVA: Ford adjusting to Russia challenges - Farley