RUSSIA: TagAZ car output more than doubles
Car output at Taganrog Automobile Plant, or TagAZ in Rostov, more than doubled to 45,935 units in January-May.
In 2007, TagAZ produced 71,050 cars, up 46.8% on the year, and 10,389 trucks, up 45.1% on the year.
TagAZ plans to sell over 120,000 Hyundai cars this year, up from the 79,620 sold in 2007.
Established in 1997, Rostov Region-based TagAZ has produced Hyundai Accent sedans under a license from Hyundai Motors since May 2001 and Hyundai Sonata business-class sedans since April 2004. In June 2005, the company launched assembly of Hyundai Porter light trucks. TagAZ also launched an assembly line for Hyundai Santa Fe SUVs in April 2007 and fourth generation Hyundai Elantra XD sedans in May.
Vehicles assembled at TagAZ accounted for 54% of all Hyundai vehicles sold in Russia in 2007.
Late last year TagAZ purchased equipment and the rights to produce the SsangYong Korando, Musso and Musso Sports. All three models were discontinued in South Korea in 2005.