Carmaker Sollers has narrowed a net loss in the first half of 2010 to RUB1.26bn (US$42.07m) from RUB3.6bn in the same period of 2009.

Chief financial officer Nikolai Sobolev told Reuterts Sollers expected 2010 sales to exceed RUB50bn compared with RUB34.7bn in 2009 and targeted earnings before interest, taxes, depreciation and amortisation (EBITDA) of over $100m.

The Russian car industry is in recovery mode after annual sales halved amid the global economic crisis in 2009.