RUSSIA: Avtovaz halting production again, for a month
Russia's Kommersant daily newspaper said Friday that the country’s largest car maker, OAO Avtovaz, would halt production between December 15 and January 15 due to overproduction.
Avtovaz halted output between October 26 and November 10 but managed to sell only 7,000 cars out of the 90,000 stockpiled, the report said.
Avtovaz' official dealers also say there are about two month's sales worth of unsold cars to date, the newspaper said.
Avtovaz said in a statement earlier in the week that "despite difficulties," it won't lower its prices, the report added.