VIENNA – Russian auto maker OAO IzhAvto, based in Izhevsk, has filed for bankruptcy, saying it cannot repay its debt amid the global economic downturn. IzhAvto appears to owe about RR11.3 billion ($368 million), although some sources say the company’s debt is more than RR14 billion ($456 million). The auto maker will try to restructure its financing, rather than fold operations, sources say. The car maker assembles the first-generation Kia Spectra and Sorento cross/utility vehicle from ...
Premium Content (PAID Subscription Required)
"Russian Auto Maker IzhAvto Files for Bankruptcy" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.