Russia’s Gorky Automobile Plant (GAZ) will stop manufacturing Volga cars and no longer design its own car model.
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The Bazovy Element Company, owners of the GAZ plant, announced the news at the Carnegie Foundation in Washington yesterday, reported Itar-Tass news agancy.
Bazovy chairman Oleg Deripaska said: “It has been decided to abandon the production of Volga cars because the model no longer corresponds to modern realities. The plant will concentrate on the production of commercial models of motor vehicles – Gazel, Sobol, trucks and buses.”
According to Bazovy, US$150m has been invested in the GAZ reorganisation and at present the enterprise’s sales volume has reached US$3.5bn.
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