AvtoVAZ will continue to invest in new projects amid falling market

Despite the decline in the automotive market, AvtoVAZ continues to invest in the future and does not stop working on future projects. This was stated by the head of the domestic automobile company Maxim Sokolov, the press service of AvtoVAZ reported on September 16.

"Currently, it is necessary to focus efforts on the launch of Lada Azimut. <...> A promising crossover based on the upgraded Lada Vesta platform was very warmly welcomed by the expert community, and now the success of this project depends only on you and me," Sokolov said at the annual supplier conference with the participation of representatives of the Ministry of Industry and Trade and the government of the Samara region.

The main challenges for the industry this year and next year will be to increase production efficiency, reduce and maintain prices throughout the financial chain, continue investments in capacity development, retain and retain labor collectives, ensure high quality, and meet the deadlines and parameters for launching new projects, said the president of AVTOVAZ.

In addition to continuing work on Azimut, new generations of engines will be developed and mastered, which will be installed on the new and other Lada models, said Evgeny Shmelev, First Executive Vice President for Strategy and Technical Development at AvtoVAZ.

According to the results of the last month of summer, 122.2 thousand new passenger cars were sold in Russia. This is 1.3% higher than in July, but 17.6% less than in August last year.

We found a balance: sales of new cars increased by 1.3%

The car market showed moderate growth in August

On July 22, AvtoVAZ announced that it was considering switching to a four-day working week. The decision will be made in September. The automaker cited the high key rate and stricter regulatory requirements for car loan borrowers as the reasons for the difficult market situation.

Prior to that, on June 18, the head of AVTOVAZ Maxim Sokolov said that the company plans to adjust investment plans and postpone some programs due to unfavorable macroeconomic factors. On June 17, First Deputy Prime Minister Denis Manturov announced that AvtoVAZ would reduce its plan for 2025. He stressed that this would happen for reasons beyond the control of the domestic automaker.

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