Hyundai Motor has postponed the construction of its assembly plant in St Petersburg, according to media reports.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Hyundai’s Chief Financial Officer Chung Tae-Hwan announced the suspension Thursday, citing falling demand for cars, according to Bloomberg.


Sales of Hyundai cars in Russia dropped 36% year-on-year in the fourth quarter to 33,330 units.


Hyundai started building the plant in 2008 and planned to finish construction in 2010.


Hyundai also recently announced that it was putting plans for a Brazilian plant on hold due to uncertainties over the global economic downturn.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now