Page 127 - RusRPTFeb24

9.2.2 Automotive corporate news
Russian national carmaker AvtoVaz boosted its output 1.5-fold year on year to 0.374mn vehicles in 2023 mostly due to Lada Granta and Niva, with domestic car sales at 0.353mn units, Kommersant daily reported citing the CEO of the company Maxim Sokolov.
This made the record-sales in 10 years, however, in 2023 Chinese carmakers have captured more than half of the market. Sokolov estimated that in monetary terms Chinese brands take more than 80% of the market.
Russian national carmaker AvtoVaz boosted its output 1.5-fold year on year to 0.374mn vehicles in 2023 mostly due to Lada Granta and Niva, with domestic car sales at 0.353mn units, Kommersant daily reported citing the CEO of the company Maxim Sokolov.
This made the record-sales in 10 years, however, in 2023 Chinese carmakers have captured more than half of the market. Sokolov estimated that in monetary terms Chinese brands take more than 80% of the market.
South Korean automaker Hyundai’s former production plant in St. Petersburg has reopened under new Russian management, state media reported on January 9, citing the factory’s press service. In December, the Hyundai plant — which suspended operations in March 2022 amid an exodus of foreign companies from Russia — was sold to the company Art-Finance for a reported 10,000 rubles ($111). Art-Finance is owned by the auto dealership group Avilon, which in May bought the Russian assets of German carmaker Volkswagen, including its flagship Kaluga factory near Moscow. According to the company, around 800 workers are currently employed at the production facility. According to the company, around 800 workers are currently employed at the production facility.
The destiny of the erstwhile Toyota facility in St. Petersburg appears to be sealed, signalling a shift towards the assembly of Aurus automobiles. According to sources from "Kommersant," Gazprom is entering the project, taking the helm of the company "Shushary Auto," which owns the automotive plant. The newly appointed CEO of "OAO Aurus Motors," Andrey Pankov, is spearheading the initiative, actively recruiting personnel for the plant.
Reports suggest that Gazprom might acquire up to 40% of Aurus' producer from the Federal State Unitary Enterprise (FGUP) NAMI, which currently holds 63.5%. The venture into manufacturing luxury sedans and SUVs under the Aurus brand has been deemed unprofitable, as highlighted by earlier reports in "Vedomosti."
Russian officials, however, have been discussing the expansion of the Aurus
127 RUSSIA Country Report February 2024 www.intellinews.com