“The Russian authorities are preparing new support measures for AvtoVAZ, as it became difficult for the concern to pay for loans after the Central Bank raised the key rate to 21% per annum.”, — write: www.epravda.com.ua
The Russian authorities are preparing new support measures for AvtoVAZ, as it became difficult for the concern to pay for loans after the Central Bank raised the key rate to 21% per annum.
About this informs The Moscow Times.
It is noted that since interest rates have increased by billions of rubles per year with the increase in the key rate of payment to banks, the issue of helping the company is being discussed at the level of relevant departments.
In September, the president of the auto concern Maksym Sokolov announced that the company’s debt exceeds 100 billion rubles ($1 billion).
“This is a serious burden, especially with the current key rate, it is an additional almost 20 billion rubles that must be found for loan servicing annually,” Sokolov emphasized.
In 2023, sales of Lada cars in the Russian Federation increased 1.9 times, to 352.6 thousand units, as a result of which AvtoVAZ was in second place after manufacturers from the PRC (456.1 thousand).
In January-October 2024, its sales amounted to 377.9 thousand. At the same time, the concern expected to sell 500,000 by the end of the year. He sets the same bar for himself in 2025. AvtoVAZ does not publish financial statements.
We will remind:
In September 2024, the Russians installed car loan record.
Russian “AvtoVAZ” started negotiations with the Chinese manufacturer “Haval” on the supply of engines.
89% of the money that Russians spend on buying new cars are going to China, said Dmytro Kostromin, Vice President of Sales and Marketing of AvtoVAZ.