Despite the fact that AvtoVAZ restored the production of cars in “anti-crisis”, simplified versions quite quickly, and then returned to the configuration of cars and many options, after finding new suppliers, by the end of the current year the company will , says Sergey Chemezov, general manager of Rostec.
“You can’t count on a profit this year, you can see that for yourself. But there are positive trends [президент АВТОВАЗа Максим] Sokolov promised to make a profit in 2023,” Chemezov told Vedomosti.
The break with the Renault group and the cessation of production will play a decisive role in AVTOVAZ’s financial performance for the year. The factory’s previous failed year was the 2020 pandemic, which ended the company with a loss of 196 million euros. In the next one, 2021, we managed to achieve a net profit of 166 million euros.