Mexican Media Brands
AvtoVAZ Trims Losses
A rebounding car market in Russia helped industry leader OAO AvtoVAZ shrink its net loss last year by 78% to 9.7 billion rubles ($172 million).
#economics
Share
A rebounding car market in Russia helped industry leader OAO AvtoVAZ shrink its net loss last year by 78% to 9.7 billion rubles ($172 million).
Full-year revenue for the maker of Lada brand cars surged 22% to 225.6 billion rubles ($4 billion). Unit sales climbed 17% to 311,600 units.
Russia’s car market snapped a four-year slump last March and has been posting strong gains since then. By the end of 2017, sales had climbed 12% to 1.60 million units.
AvtoVAZ, which is controlled by the Renault-Nissan alliance, tells reporters it aims to increase sales by 10% this year.
Deliveries of cars and light trucks in Russia peaked at 2.53 million units in 2012, according to the Moscow-based Assn. of European Businesses. Volume in 2016 bottomed at 1.43 million units.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.