AvtoVAZ will break even by the end of this year
By Andrew C., 30 Aug, 2010. 0 Comments
AvtoVAZ president Igor Komarov, in an interview with Reuters Financial Television, said that it will break even by the end of the year. He mentioned a forecast made earlier for 2010 sales to reach 400,000 units. AvtoVAZ, where Renault has a 25% stake, will keep the same market share.
Komarov sees this to be about 24-25% depending on market conditions. He said that if the economy allows sales of 1.7 million cars this year, the company will maintain the 400,000 cars figure. According to data from the Association European Businesses in the Russian Federation, AvtoVAZ sold 349,490 cars last year, down 44% from 2008.
[via autonews - sub. required]
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