Minister: AvtoVAZ unlikely to raise car prices in Russia soon

MOSCOW, Apr 20 (PRIME) -- Carmaker AvtoVAZ is unlikely to boost prices for its cars in Russia in the near future, Industry and Trade Minister Alexander Novak told reporters Wednesday.

Business daily Vedomosti reported earlier on Wednesday that AvtoVAZ can raise prices for several models in May.

Manturov said that “prices are a mirror of the market” and the new executives of AvtoVAZ will not risk the sales.

AvtoVAZ said in February that its net loss nearly tripled to 73.9 billion rubles in 2015. The previous head of the company Bo Andersson resigned in February and was replaced by Nicolas Maure. The line-up of the board of directors can also be changed to implement a new development strategy, the company said earlier.

(65.6474 rubles – U.S. $1)

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