General Motors’ Russia-based joint venture with OAO Avtovaz has downgraded output plans for 2004 to 55,150 vehicles, from an earlier planned 60,000, Dow Jones reported, citing the Thursday edition of the Vedomosti newspaper.

The report said analysts quoted by the paper attribute the change of output plan to lower-than-expected demand due to the relatively high prices of the joint venture’s vehicles.

Dow Jones noted that GM-Avtovaz has several times revised down its production plans in 2003, producing 25,000 vehicles, compared with the original forecast of 37,000.