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AvtoVAZ to Trim Lada Production in Russia
Russia's largest carmaker, OAO AvtoVAZ, is the latest to announce a production cut because of the country's shrinking car market.
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Russia's largest carmaker, OAO AvtoVAZ, is the latest to announce a production cut because of the country's shrinking car market.
The company says it will eliminate 25,000 units from its Lada production plan for September-November.
AvtoVAZ, which is controlled by the Renault-Nissan alliance, also produces Renault and Nissan vehicles. Output of those models appears not to be affected.
Lada sales fell 16% to 220,800 units in the first seven months of 2014, including a 25% drop to 28,000 units in July, according to the Moscow-based Assn. of European Businesses. July sales in Russia dropped 9% for Renault but jumped 21% for Nissan.
General Motors and Ford have already announced production cutbacks in Russia, citing the country's cooling economy.
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