Avtovaz plans to sell around 450,000 Lada cars in Russia in 2024

Avtovaz plans to sell around 450,000 Lada cars in Russia in 2024
# 11 January 2024 21:15 (UTC +04:00)

Avtovaz plans to sell about 450,000 Lada cars in Russia in 2024, the company’s president Maxim Sokolov told reporters, APA reports citing TASS.

"If we talk about domestic sales - around 450 [thousand] give or take," he said.

At the same time, of the 500,000 Lada cars planned for production this year, in addition to sales on the domestic market, a certain number of cars are "in reserve" for sale at the beginning of next year, a certain number are on the way or in dealer warehouses, and approximately 25,000 vehicles are earmarked for export, Sokolov stated.

Sokolov added that Avtovaz sales in Russia almost doubled to over 352,500 cars by the end of 2023. "Avtovaz and our brand, so far the only one - I'm not talking about sub-brands - Lada occupies a dominant, leading position in it [the Russian market] with a record sales volume of 352,500 cars," Sokolov said. The company's presentation gave a more specific figure of 352,572 vehicles. In 2022, the company sold 188,600 cars, so sales almost doubled.

The company share in the Russian market in 2023 was 35%, a record-breaking figure over the last two decades, according to the presentation. The company’s Vice President for sales and marketing Dmitry Kostromin noted that the goal for the coming years is to maintain a share of at least 30%.

Kostromin also adeed that Avtovaz exported 6,500 Lada cars. "In terms of exports, 2023 proved to be a challenging year. We worked in eight countries. In these regions and countries, we sold 6,500 cars to end users," he said. In total, the company sold cars in 8 countries, including Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Uzbekistan, and South Ossetia.

Regarding the 2023 financial metrics, Avtovaz did not release exact data, but stressed that it "maintains financial stability and operates at profit." The Russian Ministry of Industry and Trade earlier reported that the manufacturer will break even in 2023.

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