Global sales of AVTOVAZ fell by a third in Q1 2022

Global sales of AVTOVAZ fell by a third in Q1 2022


 

Prime.- Global sales of Avtovaz, including the Russian market and exports, fell by 33.1% to 60.6 thousand vehicles in the first quarter of 2022, according to a press release from the main shareholder: the Renault Group.

According to AEB data, 52.7 thousand Avtovaz made cars were sold in Russia within the January – March period (37% decrease year-on-year). The export sales of Lada in the first quarter amounted to almost 7.9 thousand units.

Renault’s earnings from its stake in Avtovaz fell 23.1% year-on-year to €527 million in the quarter, the French company said in the report.

The group’s global sales for the first three months of this year was 9.748 billion euros, down by 2.7% year-on-year.

Avtovaz manufactures full-cycle cars and components for Lada and Renault brands. Production facilities are located in Togliatti and Izhevsk. The Lada brand consists of five model families: Vesta, Xray, Largus, Granta and Niva. The brand leads the Russian automotive market with a share of over 20% and is present in more than 20 countries.

The company’s sales in Russia in 2021 increased by 2% to 350.7 thousand units.