The report in focus

Automotive market in Russia

Automotive market in Russia

Exit date 23.05.2019

Format PDF

Price 1320 eur.

This is the seventeenth edition of our annual reference book «Automotive market in Russia», covering results of 2018. It contains statistics and analytics on production, sales and vehicle parc in our country.

23 may more info

Analytics

Russian dealers of Ford began sales of updated Mondeo

Ford Mondeo sedan has received a technological upgrade aimed at the safety improving of the car and improving of the intelligent driver assistance systems. People can order updated Ford Mondeo at all official Ford dealers in Russia.

05 julymore info

Infographics

Which cars with automatic transmissions are bought by Russians?

News

AvtoVAZ has doubled payments for Board members

 

Avtovaz.jpgIt was paid RUB 335 million to Board members of AvtoVAZ in 2012, which is 2,2 times more than in 2011. The salary of RUB 180,5 million was paid to top-managers (it was almost RUB 119 million in 2011), bonuses – RUB 145,6 million (RUB 21,8 million) and cost compensation RUB 8,8 million (RUB 7,8 million), wrote the newspaper “Vedomosti” with reference to the quarter report of AvtoVAZ. Payments include interest accrued on the results of the board in 2011, the company representative explained the growth.

Board of AvtoVAZ includes 14 persons but three of them left the company in 2012: the executive vice-president, Vitalii Vilchik, the vice-presidents Grigorii Hvorostyanov and Polina Grishina and one person came to the Board. It turns out that each of 12 top-managers that worked in 2012 received in average RUB 27,9 million. “Golden parachutes” for those, who left the company, were not paid, said the representative of AvtoVAZ. 12 members of Board of directors of AvtoVAZ received RUB 45 million in 2012, which is 24 times more than in 2011 (each member earned RUB 3,75 million in average).

“All of tasks set by shareholders in 2011 were performed by management. Sales and production plans were exceeded. The company ended the year with a profit”, - a representative of plant explains the generosity. According to AEB, sales of Lada in Russia increased by 11% to 578,387 units in 2011(the entire market increased by 39% to 2,65 million cars and LCV). Revenue of AvtoVAZ under IFRS grew by 27% to RUB 175,1 billion, and the net profit - by 86% to RUB 6,7 billion.

According to the AEB, Lada sales in Russia decreased by 7% to 537,625 units in 2012, while the market grew by 11% to 2,935 million vehicles. Exports of AvtoVAZ grew by 23.5% to 70,580 vehicles in 2012. According to the analyst of “VTB Capital”, Vladimir Bespalov, the net profit of AvtoVAZ group by IFRS can increase by 4.5 times to RUB 30,3 billion in 2012 (in accordance with the statements of Renault group for 2012, which owns 25% of AvtoVAZ). However, the most part of profit of the Russian concern generates the income from discount of interest-free loans that were given by “Rostechnologii” to the plant, remarked the analyst. 

The growth of Russian car market becomes slower and, in accordance with AEB and AUTOSTAT forecast, it will remain at the level of last year in 2013. But this is hardly to lead to a reduction of payments to members of councils and board of car concerns, supposes the invest director of SI Capital Partners, Ivan Bonchev. Car makers upgrade model ranges (including with the participation of foreign partners – Daimler, Renault-Nissan and etc.), go to the high price segments and increase the total business efficiency, he explained.

 

19.02.13 AUTOSTAT
Source: www.autostat.ru