MOSCOW, Aug 28 (Reuters) - Russia's top car maker Avtovaz has no plans to further raise prices for its Lada cars this year as depressed market conditions have hit demand, its chief executive told Reuters on Thursday.
"We must be competitive, we have no plans to raise prices this year," Bo Andersson said on the sidelines of the annual Moscow International Automobile Salon.
The company, controlled by French-Japanese car making alliance Renault-Nissan , said on Monday it would cut production of Ladas in the next three months to reduce inventory levels.
Lada sales fell 25 percent in July, year-on-year, amid a 23 percent broad market decline caused by the weakening of the rouble and growing uncertainty among consumers over the implications of the Ukraine crisis. (Reporting by Gleb Stolyarov; Writing by Maria Kiselyova; Editing by Mark Trevelyan)