Russian automaker IzhAvto has failed to make a coupon payment of 168.962m rubles on its second, 2bn ruble bond issue because of a lack of funds, the company said in a statement on Monday.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


IzhAvto was due to make the payment on 11 June, according to Prime-Tass.


In mid-April, IzhAvto defaulted on a buyback of 1.238bn rubles worth of bonds because of a lack of funds, according to earlier reports.


Russian media reported earlier that IzhAvto was on the verge of bankruptcy. It suspended production in late April due to a lack of components and said earlier it could resume operations in July.


In April, Russia’s SOK Group, which owned 98% in IzhAvto, sold a 74.8% stake in IzhAvto to senior managers of the carmaker.

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact