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The report in focus

Automotive Industry In Russia. Results of 2019. Prospects

Automotive Industry In Russia. Results of 2019. Prospects

Exit date 02.06.2020

Format PDF, 55 стр.

Price 960 eur.

report contains information on automotive vehicle production in Russia, particularly passenger cars and commercial vehicles

02 june 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 do the different aged Russians drive?

News

GAZ Group increased its IFRS revenues by 16%

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In the first half of 2017, the revenue of GAZ Group was 67.4 billion rubles in accordance with International Financial Reporting Standards (IFRS). This is more by 16% compared to the same period in 2016, reported the company's press service.

The increase of revenue was due to the growth of sales volumes of the NEXT generation equipment. Thus, sales of GAZelle NEXT and GAZON NEXT cars in the Russian market grew by 29%. Sales of buses of all classes and destinations grew by 22%. In addition, the improvement of financial results was achieved due to the cost reduction, which the company continues to conduct under conditions of macroeconomic factors affecting negatively the market situation and cost of products. At the same time, the company has maintained its leadership position in all key segments of the commercial transport market.

Growth of sales and business efficiency in the first half of 2017 allowed the company to earn 1.1 billion rubles in profit against the loss of 2.4 billion rubles received for the same period in 2016. The revenue per employee grew by 11% and it reached 257 thousand rubles per month.

As the president of GAZ Group, Vadim Sorokin, noted, the company showed an increase of the financial result in the first half of the year, despite macroeconomic factors. "The high cost of loans, the cost of materials and energy, low purchasing power in the commercial transport market does not contribute to positive economic dynamics. Nevertheless, in these conditions, the GAZ Group team once again managed to mobilize its resources and achieve significant results. In the first half of the year, we achieved the effect of cost reduction at the level of 1.7 billion rubles. The resources that we accumulate are directed to new developments of vehicles. This year we worked on expanding the product line in several directions: increasing of the carrying capacity of light commercial and medium-tonnage vehicles, creating right-handed versions of cars and other export modifications, developing electric transport for passenger transportation, and creating new off-road vehicles. Premiers of these and other novelties will be presented in a few days at the exhibition Comtrans in Moscow. In the future, the introduction of these models on the market will allow the company to enter new segments of the Russian market and expand the presence in export markets," - said Mr. Sorokin.

31.08.17 AA "AUTOSTAT"
Source: www.autostat.ru