GAZ is expecting to report a net profit for 2010, the company’s group president has been quoted by local media.
The Russian automaker had a torrid 2009, with reports it recorded a net loss of RUB3.866bn as it struggled in a Russian vehicle market that all but collapsed on the back of a deep recession and severely restricted credit availability.
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However, speaking to local reporters today (3 July) GAZ Group president Bo Andersson said he expected the company to return to the black this year.
In June, Anderson said that revenue at GAZ Group is projected to increase 20% on the year to RUB82–88bn in 2010.
He added at the time that the group could now increase the daily output of GAZelle vehicles to 400 units from about 350 units, as stock at dealers was currently falling.
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