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Lada balance sheet - another loss: Lada farmer Avtovaz makes another loss

Lada balance sheet - another loss
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That is almost six times higher than in 2008, said Avtovaz boss Igor Komarow of the Moscow daily newspaper 'Kommersant'. He attributed the trend mainly to a drastic drop in demand as a result of the economic and financial crisis.

Renault technology for new models

According to its own information As part of the alliance with the French car manufacturer Renault, Avtovaz has access to technologies, platforms and engines and is allowed to use them in the production of vehicles in the future. In addition, loans from Russian state banks should help the group based in the city of Togliatti on the Volga to overcome the consequences of the crisis.

Avtovaz plans to start production of five models in late 2011 or early 2012, including two below of the Lada brand, said a company spokesman. Among other things, a cheap car is planned. The Russian state-owned company Rostechnologii, the investment house Troika Dialog and Renault each hold 25 percent plus one share in Avtovaz.

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