AvtoVAZ’s net profit in 2022 decreased by 86.2% and amounted to 206.6 million rubles against 1,497 million rubles a year earlier, as of March 7, the company’s press service reports.
Avtovaz’s revenue fell 43.7% to 169.574 billion rubles. The company’s gross profit decreased by 71.2% to almost 7.239 billion rubles. Cost of sales amounted to 162.333 billion rubles and decreased by 41.2%.
The company’s selling expenses decreased during the reporting year to 5.233 billion rubles, having decreased by 37.4%. Management expenses fell to 6.132 billion rubles, falling 6.9%. AvtoVAZ’s loss of sales amounted to 4.126 billion rubles against a profit of 10.2 billion rubles the previous year.
Recall that on March 3, mass production of the Lada Vesta NG car was resumed at the AvtoVAZ plant in Togliatti. The company hopes to start selling the model in May. The new generation of Lada Vesta will go to more than 300 AvtoVAZ dealers. This will happen immediately after the accumulation of the necessary stock of finished cars.
On February 22, the company’s management announced that prices for some AvtoVAZ models would increase from March 1. AvtoVAZ expects to start continuous production of Lada Largus in Togliatti in 2023, according to a statement from company president Maxim Sokolov.
Source: Rossa Primavera
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