Ferrari suspends Russia sales, donates $1 million to Ukraine aid
Italian automaker stopped building cars earmarked for Russia
Ferrari is cutting off the supply of its cars to Russia.
Ferraris are sold through a few outlets in Russia including this one in Moscow. (Google Street View)
The luxury automaker announced on Tuesday that it has suspended the production of vehicles earmarked for the Russian market until further notice in response to the invasion of Ukraine.
Ferrari sold 11,115 cars built at its Maranello, Italy factory in 2021. (Daniele Venturelli/Daniele Venturelli/WireImage)
The company has also pledged to donate 1 million euros ($1.09 million) to relief efforts through the Red Cross, UNHCR and and organization assisting Ukrainian refugees being hosted in the area near the Ferrari factory in Italy.
"Ferrari stands alongside everyone in Ukraine affected by this ongoing humanitarian crisis", Ferrari CEO Benedetto Vigna said in a news release.
Ferrari prices range from approximately $220,000 to several million dollars. (Martyn Lucy/Getty Images)
"While we hope for a rapid return to dialogue and a peaceful solution, we cannot remain indifferent to the suffering of everyone affected. Our thoughts and support go out to them. We are playing our small part alongside the institutions that are bringing immediate relief to this situation."
CLICK HERE TO GET THE FOX NEWS APP
Ferrari sold a record 11,115 cars in 2021, including 1,288 in the EMEA (Europe, Middle East, Africa) region, which includes Russia. It has not broken out how many cars were sold in Russia itself, but last week describe it as a "small market" to the company, Reuters reported.