AvtoVAZ 2013 Loss Reflects Soft Russian Market

Newswire

MOSCOW, Feb 18 (Reuters) - Russia's largest carmaker, Avtovaz, reported a loss of 6.9 billion roubles ($196 million) for 2013 under Russian accounting standards, due to a deterioration in the country's auto market. Russian auto sales have faltered as economic growth slowed, causing people to put off making large purchases. Car sales fell by 5 percent in 2013, according to lobby group AEB, which is forecasting another weak year because of the faltering economy. The loss for the maker ...

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