AvtoVAZ Forecasts Modest Profit for 2022
The president of AvtoVAZ, Maxim Sokolov, indicated that the enterprise expects to close the year 2022 with a modest profit. He did not publish specific forecasted earnings figures, but he confirmed that the production plan for the year comprises roughly 220,000 vehicles. This target reflects a cautious stance in a challenging market environment, emphasizing steady output over aggressive expansion.
According to Sokolov, while the annual output is lower than the previous year, early forecasts had been far more pessimistic. In April, market analysts anticipated that the assembly line might halt for nearly a full year, and that AvtoVAZ could incur losses of up to 30 billion rubles. Despite those early worries, the company has continued operating with a six-day work week, which contributed to achieving a small, but definite, profit by year-end.
During the discussion, Sokolov also highlighted strategic plans for the next year. AvtoVAZ aims to boost production to exceed 400,000 vehicles and to invest in expanding its manufacturing capacity. The leadership remains committed to maintaining a dominant position in the Russian market, with a projected market share around 40 percent. These plans reflect a focused approach to sustaining competitiveness and capacity utilization across the product lineup.
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Source: Russia 24
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