Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

AvtoVAZ Had 2009 Loss of 38.6 Billion Rubles, Kommersant Says

April 27 (Bloomberg) -- OAO AvtoVAZ had a net loss of 38.6 billion rubles ($1.3 billion) last year, Kommersant said, citing Chief Executive Officer Igor Komarov.

AvtoVAZ expects sales to rise 16 percent this year spurred by the government’s cash-for-clunkers program and may post a profit in 2011, the newspaper said. The Togliatti, Russia-based carmaker, which currently employs 73,000 people, may cut about 4,000 jobs by 2020, the newspaper said.

To contact the reporter on this story: Anastasia Ustinova in St. Petersburg at austinova@bloomberg.net.

To contact the editor responsible for this story: Hellmuth Tromm in Berlin at htromm@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.