• "AvtoVAZ" reduced losses and saved 130 billion

  • "AvtoVAZ" has managed to reduce losses by 63 percent and received revenue in the amount to 130.5 billion rubles in the third quarter of this year. About it reported in a press release received by the editors".ru"

    According to the President of the Volga car, Nicolas Mora, the process of financial recovery of the company accelerated. Loss from operating activities (EBIT) before depreciation amounted to 12.1 billion rubles, which is 17 percent better by 2015. It is noted that such a result was achieved, including by reducing administrative costs by 35 percent.

    The share of Lada brand in the third quarter amounted to 19.9 per cent and 18.1 percent a year earlier. It was sold only 189 thousand cars, which is 6.7 percent less than in the same period last year. The market as a whole declined by 15 percent.

    23 Sep Nicolas Moore said, that car sales in Russia will grow to two million units per year in four or five years. According to Mora, in 2017 sales will remain at current levels, but sooner or later the crisis has passed. "We have to go through the storm, and we'll do it," — said the President of "AVTOVAZ". He added that next year the company expects to maintain market share of 20 percent.


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