AvtoVAZ, which is controlled by Renault-Nissan and includes the Lada marque in its stable, saw sales fall by 15% in the first four months to 128,633 units compared to the same period in 2013.
AvtoVAZ Image: Sergey feo
The Association of European Businesses (AEB) has said that the overall Russian market dropped 4% to 829k vehicles over the same period in 2014.
According to AvtoVAZ CEO Bo Andersson, the shrinking market can't be attributed to US and EU sanctions following Russia's annexation of Crimea.
Although the company saw sales decrease by 7% in 2013 with the company losing 7.7bn rubles ($225m) compared to a net income of 29bn ($843m) rubles in 2012, Andersson is confident that AvtoVAZ's slide will be slower than the industry overall - helping to increase its domestic market share.
Published 6th June, 2014
additives Africa And finally Asia Australia automotive industry Aviation base oil bio fuels bio lubes BMW BP Brazil Castrol Chevron China China and finally China Internet Marketing China Lubes Marketing China lubes news China Lubes Tech China OEM Equipment CNOOC CNPC CO2 emissions ConocoPhillips Corporate News e-commerce electric vehicles Environment and Regulatory watch Environment, regulatory and standards Europe ExxonMobil Ford Forecasts Fuchs GM Great Wall India innovation Inovation and environment Internet marketing Japan Lubes marketing Lubes news Lubes tech Lubricants marine Middle East Mobile technology motorsport N America Nissan North America OATS OEM and automotive OEM Equipment PetroChina Russia S America Scandinavia Shell Sinopec social media Total Toyota View from the Bridge Volkswagen Volvo