AVTOVAZ has made a loss of 2.75 billion rubles in the first quarter

AVTOVAZ has made a loss of 2.75 billion rubles in the first quarter

Avtostat – AVTOVAZ has made 91.1 billion turnover during the first half of 2014. The loss of the company for the same period has been declared as 2.75 billion rubles. The company has related these results to the shrinkage in the market and the depreciation of rouble. As one may remember, 220,251 Lada have been sold in Russia, during the first six months of the year (-5%).

AVTOVAZ President: Bo Andersson has made the following statement: “At the moment, our main focus is on the production of new automobiles such as; Granta Liftback, Largus Cross, Kalina Cross and 4×4 Urban. We hope that the positive market response towards these models will help increase our sales. We will continue working on product quality enhancement and the optimisation of expenses. Our aim is to end the year with positive financial indicators.”

Tags: Avtovaz