AvtoVAZ has delivered the first batch of 470 cars to Venezuela. The Lada Kalina, Priora, and Niva models are part of a deal struck in April to supply 2,250 cars to the South American country.
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This is further good news for the Russian automaker which struggled during the economic downturn as new vehicles sales in its domestic market plummeted.
Earlier this month the company reported a net profit of RUR622m (US$20m) for January-September against a net loss of RUR19.8bn last year according to reports from Moscow.
Revenue rose to RUR95.4bn in January-September from RUR60.8bn a year earlier, while the company posted a gross profit of RUR5.3bn in the period compared to a gross loss of RUR2.5bn a year before.
AvtoVAZ sold 367,765 vehicles in the January-September period, a rise of 36.5% on the year.
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