AvtoVAZ president Maxim Sokolov told reporters that in 2022 the company’s debt to creditors has increased from 100 to 120 billion rubles. He noted that over the past year the plant has paid more than 10 billion rubles in interest charges, and in 2023 this tax will not decrease.
“The loan burden of 120 billion rubles is not exactly a concrete slab, but it still pulls down AvtoVAZ’s financial model, this is objective. She swims – sometimes a little less, sometimes a little more”said Sokolov.
Sokolov also did not exclude that the company’s debt will continue to grow in the near future – and mentioned the recent loan from AvtoVAZ in the Industrial Development Fund in the amount of about 5 billion rubles. According to him, the loan is necessary to achieve technological sovereignty in the field of chassis and will be spent on the development of CV joints.
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Source: Interfax