Avtovaz adjusts car manufacturing projection
【Summary】Avtovaz, a Russian carmaker, will lower its car production forecast for the year by about 10% due to Western sanctions causing logistics and financial issues.
Avtovaz, the Russian carmaker, has announced that it will need to adjust its production plan for the current year. The company had originally planned to produce about 400,000 Lada cars, but due to Western sanctions imposed against the company in September, there have been disruptions in logistics and financial chains. As a result, Avtovaz expects its production to be slightly lower than anticipated, with a correction of around 10%.
Maxim Sokolov, the president of Avtovaz, made this announcement to Russian state media on the sidelines of a recent event. He cited the Western sanctions as the obvious reason for the need to revise the production forecast. These sanctions have had a negative impact on the company's operations, leading to repeated failures in logistics and financial processes.
The Western sanctions imposed against Avtovaz have created challenges for the carmaker. The company has faced difficulties in sourcing necessary materials and components, as well as in accessing financial resources. These disruptions have ultimately affected Avtovaz's ability to meet its production targets for the year.
Despite these challenges, Avtovaz remains committed to its production goals and is working to overcome the obstacles caused by the sanctions. The company is exploring alternative options and strategies to ensure the smooth operation of its manufacturing processes. Avtovaz is also actively seeking support from the Russian government and other stakeholders to mitigate the impact of the sanctions on its business.
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