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Avtovaz posts FY 2009 net loss of 49.2 billion roubles

Published: 17 June, 2010, 12:16


image from www.lada-auto.ru

Russian automaker, Avtovaz, has posted a FY 2009 net loss of 49.2 billion roubles under IFRS.

 
1 COMMENT
Artyom June 17, 2010, 13:14 quote
0

We can put man in space, yet can't run a car company.... Cash for Clunkers was a scam! How could people pass up that wonderful opportunity to destroy the used car market? Well, they destroyed used cars and didn't increase profits which is obvious:?? How could this be so????????? Well, almost all the people who traded their cars in found price gouging on the Lada cars. Also they were back ordered.... What happened to the people wanting cars??? A lot no longer have cars, falling victim to stupid political games. The others just moved on to foreign brands made in Russia. That helps only a little, but doesn't reflect on Avtovaz. If you had this company a gun, they would most certainly shoot themselves in the foot. My criticisms mean I want to see positive change in this company. I want them to succeed, but so far everything done hasn't helped.

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