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Russia’s Lada Pegs Profit to Reversing Market-Share Drop

OAO AvtoVAZ, Russia’s biggest carmaker, plans to return to profit by cutting costs and rolling out new models to claw back market share that has been slipping away from the producer of Lada vehicles since the end of the Soviet Union.

AvtoVAZ has a target of breaking even by the end of this year after cutting jobs and eliminating layers of management, Chief Executive Officer Bo Andersson said today in an interview at the Moscow Auto Show.