Investments of “AVTOVAZ” LADA XRay amounted to 10 billion rubles

Investments of “AVTOVAZ” LADA XRay amounted to 10 billion rubles

TOGLIATTI, February 14. /Corr. Alexey Sokolov/. Investments of “AVTOVAZ” LADA XRay amounted to 10 billion rubles. On that Sunday told reporters the head of the project LADA XRay Oleg Grunenkov.

“The investment amounted to 10 billion rubles. The project we began long ago, but we sought a concept that would allow us to be competitive in the market. During the implementation, we even saved a little money by speeding up preparation for production,” said Grunenkov.

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AvtoVAZ launches sales of LADA XRay

In Russia on Sunday started selling a new model of AVTOVAZ LADA XRay. Her first buyer in Moscow has become renowned stylist Lena Lenin who chose the car in vivid color “fresh”, announced the press center of “AVTOVAZ”.

“LADA delivers on its promises. XRay enters the market at precisely the promised time – car will provide the brand maintain its position in a difficult 2016. High level of equipment in the basic version becomes a tradition for all new models”, – said at the ceremony of start of sales the automaker’s President Bo Andersson.

Sales of LADA XRay began in 124 car dealerships in 57 cities across the country. Each dealer received 6-8 machines in versions of Optima and Top. The vehicles are equipped with engines developing LADA and Renault-Nissan (all motors for XRay are made in Togliatti). Starting price of new items – 589 thousand rubles.

Serial production of LADA XRay started at AVTOVAZ December 15, 2015. Xray – high compact hatchback, made in the style of SUV (Sport Utility Vehicle). The model was created in the framework of cooperation of “AVTOVAZ” with the Alliance Renault-Nissan, for new items we developed more than 500 original parts. As of today the localization level of the car is 50% to 65% depending on the modification.

The production is organized on the most modern Assembly line of “AVTOVAZ”. The car has become the second production model after the LADA Vesta, new brand “X”-style. As previously reported to journalists by the Director of the project LADA XRay Oleg Grunenkov, in 2016, AVTOVAZ plans to produce more than 20 thousand “Israel”, although potentially Assembly line allows to produce up to 60 thousand cars.

LADA for export

“AVTOVAZ” plans to almost double its exports to Egypt in 2016, told reporters the President of the automaker Bo Andersson.

“In 2015, we sold in Egypt approximately 3,600 cars. This year we plan to sell about 6 thousand cars,” – said Andersson.

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As said in 2015 the head of “AVTOVAZ”, in the future, the company plans to increase sales in Egypt are up to 10 thousand cars. This year in Egypt is scheduled to begin deliveries of the novelties of AVTOVAZ – LADA Vesta and LADA XRay.

Vesta and XRay from April 2016 will be available in Europe. “We are slowly returning to Europe. In December 2015, we have expanded to Hungary LADA cars Granta and LADA Kalina, and now we sell in Hungary for a month about 100 “Grant” and “Calin,” said Andersson.

According to him, the company now is negotiating for the supply of “West” and “Israel” in Europe.”We are currently negotiating with major European importers who could handle the supplies of “West” and “Israel” in 5-6 European countries. We have a clear plan, all our cars are prepared to abide by the rules of the standard “Euro-6″. It is important to find the right importers”, – said the head of “AVTOVAZ”.

20% of the domestic market

AVTOVAZ expects to hold in 2016 a 20% stake in the domestic market with a total market of 1.3 million cars, said Bo Andersson.

“If you look at the market, it seems that the market volume in 2016 will be 15% lower than in 2015. Now many predict that the market this year will amount to 1.3 million cars. Our goal remains the same – 20% of the market. In January we are already close to this figure is 19.8% of the market,” said Andersson.

The share of 20% in the total market volume of 1.3 million vehicles will reach 260 thousand cars. Sales of LADA in 2015 amounted to 269 thousand cars, which is 30% less than in 2014. The market share of LADA has increased from 16.4% in 2014 to 17.9% in 2015.

“The most important thing for us is to increase revenue and we have a plan. It is very important that our new models LADA Vesta and LADA XRay attracted to our traditional lineup,” said Andersson.

Group net loss of “AVTOVAZ” – the largest Russian manufacturer of passenger cars rose by the end of 2015 according to the international financial reporting standards (IFRS) in comparison with the previous year by 2.9 times to 73.8 billion rubles.

The producer’s revenue from sales for the reporting period amounted to 176.4 billion rubles, which is 8% lower than a year earlier. Net loss “AVTOVAZ” in 2015 amounted to 5.8 billion rubles against a profit of $ 6.4 bn a year earlier.