Interfax reports that Avtovaz, Russia’s biggest car producer, turned out 136,824 cars in the first quarter of 2003, down 24.8% from 181,827 in the same period of last year.
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Interfax said that in March alone, Avtovaz produced 60,491 cars, which was also the targeted number but fewer than the 63,842 it turned out in March 2002.
The company produced 708,835 cars in 2002, down from 767,313 in 2001.
Although the Russian car market is growing, local producers are under pressure from a surge in new and used car imports. AvtoVAZ has shut down its assembly lines in spells at the end of last year and early this year in order to reduce growing stocks.
