AvtoVAZ targets production of 450,000 cars in 2010
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Tuesday, 20 Oct 2009
Dow Jones reported that Russian automaker AvtoVAZ targets the production of 450,000 cars in 2010.
Mr Grigory Khvorostyanov head of strategy of AvtoVAZ said in addition to the 450,000 cars, it may produce 40,000 car kits.
Russian car production in the first nine months of 2009 dropped 62% on the year to 425,000 as demand evaporated because of higher unemployment and a slowdown in bank lending. AvtoVAZ said its H1 loss widened ninefold to RUB 19.48 billion.
(Sourced from Dow Jones)
