Renault chief Carlos Ghosn says he sees logic in the French carmaker taking a controlling stake in AvtoVAZ.
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Following a meeting with Russian prime minister Vladimir Putin, Ghosn told reporters that increasing Renault’s current 25% stake would be a “logical development of our partnership”.
After two years of plummeting sales, things are looking better for AvtoVAZ which said that sales are now running more than 40% ahead of last year as the market is stimulated by the governments scrappage scheme.
AvtoVAZ has sold 418,016 vehicles in January–October, the company said in a statement. Of this total, 166,437 cars were sold under the scrappage programme.
Under the scheme, which started in March, owners of cars produced before 2000 can receive bonuses worth RUR50,000 (US$1,600) to buy new Russian-made cars in exchange for recycling their old vehicles.
In October, AvtoVAZ sold 50,251 cars, up 78.1% on the year – 27,297 of them under the scrappage scheme.
