The net loss of AVTOVAZ has exceeded 5 billion rubles

The net loss of AVTOVAZ has exceeded 5 billion rubles

Auto Business Review – AVTOVAZ has declared 5.1 billion rubles net loss for the first three quarters of 2014. On the other hand, when third quarter-only is taken into consideration, the company has generated a profit of 320 million from sales.

The market share of Lada has risen to 19.4% thanks to the utilisation programme, which commenced in September, according to the statement made by AVTOVAZ. This ratio was lower in August.

AVTOVAZ president Bo Andersson has told that under the current conditions of instability, the company needs to continue cutting expenses. Andersson has added that making maximum use of the opportunities offered by the utilisation programme, new models such as; Lada Kalina Cross, Lada Largus Cross and Lada 4×4 Urban have to be put on the market successfully.