Renault supposes that the investments into AVTOVAZ are advantageous

French car manufacturer Renault Group still supposes that the purchase of blocking share holding of AVTOVAZ is an advantageous investment and is waiting for rise of the Russian market. This was reported by Autonews with reference on the head of the direction �Eurasia� in the executive committee of Christian Estev.
�Purchase of shares of AVTOVAZ � is a long � term investment which will be justified in the future. It will allow Renault to take the position at the market which will be one of the first in the world, - said K. Estev. � Russian market has a big potential of growth despite a great decrease because of economical and financial crisis. Today 150 cars account for 1000 inhabitants in Russia; in Europe this index is equal to 600 cars�.
As Mr. Estev reported, the partnership with AVTOVAZ will allow Renault to exceed the �level of integration and to become a local manufacturer, which is advantageous in Russia�. �Owing to this Renault invested into Russia. The group is in advantageous situation to use the growth of the market when it will be time for rise,� � as the head of the direction �Eurasia� in Renault supposes.
We remind that the concern Renault bought the blocking share holding of AVTOVAZ (25% and one share) in February 2008. The state corporation �Rustechnologies� and the financial company �Troike Dialog� have the same shares in the capital of the biggest Russian car manufacturer.