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Low adaptability to Russian consumers, rouble fall behind demand drop for GM products -RIA

Reuters - UK Focus

MOSCOW, March 18 (Reuters) - Low adaptability to Russian consumer needs as well as the fall in the rouble have been the main reasons behind a decline in demand for General Motors (NYSE: GM - news) products in Russia, RIA news agency quoted the industry and trade ministry as saying on Wednesday.

General Motors said earlier on Wednesday it would shut its Russian factory and wind down its Opel brand in the country to try to survive a deepening downturn in the auto market.

"A low level of production localisation (25-27 percent) were the main reason for the decline in attractiveness of the concern's models in the Russian automotive market," RIA cited a ministry's official as saying.

"The growth of the dollar against the rouble has only exacerbated an already difficult situation." (Reporting by Lidia Kelly, editing by David Evans)