AvtoVAZ has suspended car production – Rosbalt

AvtoVAZ and its subsidiaries Lada Izhevsk Automobile Plant LLC (Lada Izhevsk) and Lada Zapad Togliatti JSC have gone on a planned corporate vacation.

“For AvtoVAZ, this is a planned corporate vacation, it will last from 4 to 7 May 2021. Also, the auto plants Lada Izhevsk and Lada Zapad Togliatti went on a corporate vacation (until 2020 – JV GM-AvtoVAZ). Taking into account the May holidays, production was suspended from May 1 to May 10 inclusive “, – quotes”Finmarket»A representative of the company’s press service.

It should also be reminded that sales of new Lada cars in the European Union fell by 42.7% in January-March this year to 323 cars. In March, the figure fell by 2.4% in annual terms to 166 units, follows from the data of the European Association of Automobile Manufacturers (ACEA).

In 2020, sales of new Lada cars in the EU decreased 2.4 times compared to 2019 to 2,074 thousand cars

In Russia and abroad, sales of Lada cars decreased by 5% last year to 393,806 cars.

At the same time, the revenue of PJSC AvtoVAZ according to RAS at the end of 2020 amounted to 256.851 billion rubles, which is 12.1% less than the result a year earlier. The net profit of the automaker according to RAS in 2020 amounted to 741.656 million rubles. Cost of sales decreased by 13.2% to RUB 235.856 billion.

However, in the first quarter of 2021, AvtoVAZ increased sales of Lada cars in Russia by 5.4% YoY, including 3% in March.

We also add that the board of directors of AvtoVAZ approved the appointment from June 1, 2021 as president of the company, Nicolas Mora, who will replace Yves Karakatzanis in this post.

Source: Росбалт by www.rosbalt.ru.

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