OREANDA-NEWS.  The revenue of "AvtoVAZ" Group in the first quarter of 2016 was 38.4 billion Rubles, which is less by 26% compared to the same period of 2015. This volume of revenue was achieved against the background of continuing decline in the automotive market. Quarterly operating loss was 6.6 billion Rubles, compared with 0.5 billion Rubles for the same period of 2015, informed the press service of AVTOVAZ.

As it was noted, the financial results of the Group "AvtoVAZ" by IFRS for the first quarter of 2016 indicate that the company has kept its position in the Russian market and it showed a satisfactory trend in sales, especially LADA cars of the new generation - Vesta and XRAY. For three months of 2016 the Russian car market fell by 18% compared to the same period of the last year, which is explained by the negative macroeconomic events, a decrease in the purchasing power of the population, unfavorable exchange rates and low oil prices.

The main achievement of AvtoVAZ was the holding of share of the Russian car market - 18.9%, which corresponds to the first quarter of 2015. Saving of high market share was provided with the successful sales of LADA Vesta and LADA XRAY. Currently AVTOVAZ focuses on the quality of every new vehicle, and it recognizes the lack of supply intensity of Vesta and XRAY to the dealer network. AvtoVAZ is making all necessary efforts to increase the production of these models, and it plans to increase their production since May of 2016, which will provide the order fulfillment of the dealer network.

In the first quarter of 2016 total retail sales of LADA in the domestic market were 56,879 units, more by 17% compared to the same period in 2015 and it is mainly in line with market trends. The volume of production of LADA, Renault, Nissan and Datsun cars (including CKD kits) was 96,498 units, which is less by 34% than in the same period of 2015. It permitted to meet the demand in the market and to avoid the increase of stocks.