- AvtoVAZ shares jump 20 pct as Putin promises to raise duties on foreign cars
- AvtoVaz plans to start new car production in late 2011
- Russia's AvtoVAZ to start Renault and Nissan production after 2012
The first batch of 460 Lada-family cars will arrive in Venezuela in November, the Venezuelan trade minister said.
Russia's biggest automaker AvtoVAZ and Venezuela agreed in April on the construction of a Lada assembly plant in Venezuela and on the delivery of 2,250 Lada cars to the Latin American country.
"The first shipment of 460 Lada Kalina, Lada Priora and Lada 4x4 will arrive in Venezuela in November," the Mexican media quoted Richad Canan as saying.
"They will be sold on the local market for 43,000-51,000 bolivars [$10,000-12,000]," the minister added.
Venezuelan President Hugo Chavez travelled around Moscow in a red Lada Priora during his visit to Russia in October.
Chavez, who owned Lada Niva (4x4) in the 1990s, noted reasonable price and low fuel consumption as the main advantages of Lada cars.
AvtoVAZ made a 3.1 billion ruble ($103 million) net profit to IFRS in the first half of 2010 compared with a 19.6 billion ruble ($635 mln) loss in the first half of 2009.
MEXICO, October 30 (RIA Novosti)
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Yury Gagarin: A down-to-earth person
Infographics: The Linguistic Diversity of the Planet
Ukraine has not preserved its 1991 borders. The signing of the Geneva memorandum on April 17 reaffirmed the willingness of Russia, the United States and EU countries to reach a compromise. While the sides continue to trade tough talk and symbolic sanctions, the Kremlin and the White House are also holding a parallel dialogue on the coordinated geopolitical revision of Eastern Europe.