Russia’s AvtoVAZ may cut production 13% to 405,500 cars in 2016

SAMARA, Feb 25 (PRIME) -- Russia’s largest car producer AvtoVAZ may cut its production by 12.9% to 405,500 cars in 2016, the Samara Region’s Industry and Technologies Ministry said in a statement Thursday.

GM-AvtoVAZ, a joint venture between AvtoVAZ and U.S. General Motors, plans to produce about 34,100 cars in 2016, down 1.5% on the year.

The ministry also said that production of car components in the region may fall about 20% to 53.4 billion rubles.

On February 15, AvtoVAZ President Bo Andersson said the company plans to hold a 20% share on Russia’s auto market in 2016 and plans to sell around 260,000 cars in 2016, compared to 269,000 in 2015.

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