AvtoVAZ announces plans to cut production
Follows General Motors (GM) announcement last week that it would be cutting production back and reviewing its plans for expansion.
AvtoVAZ has announced that it is planning to cut production of its Lada-brand models during the next three months due to slower demand, reports Reuters. The automaker was quoted as saying in a statement: "Because of the decrease in sales of all cars in the Russian market, and in order to better manage inventory levels, AvtoVAZ made a decision to reduce production of Lada cars in September, October and November by a total amount of 25,000." However, it added that workers would continue to receive full salaries during this time.
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