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Although GAZ promises to execute 2008 production target, the decline in production has started already.
Photo: Nikolay Cyiganov
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Oct. 08, 2008
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Crisis Extended to Automobile Makers
The global financial crisis reached real economy. Metal producers and car makers are forced to lower the output. GAZ truckmaker stopped the production line till October 13 and KamAZ shortened a working week by a third.
GAZ Group announced yesterday it suspended Gazel production for a week October 6. They wont assemble 2,000 Gazels over the period, which wont affect execution of annual target, GAZ representatives vowed.

KamAZ shifts from the six-day week to the four-day one, said Vladimir Samoilov from KamAZ. It will operate in such reduced mode till December 6, Samoilov specified.

Although GAZ promises to meet the 2008 production target, the decline is evident already. According to ASM Holding, the output fell 8.8 percent from January through September. The truck production shed 23.4 percent in one go in September. GAZ brought to a stop the production line for four days that month, say sources with GAZ suppliers, but the truckmaker hasnt confirmed the information yet.

Unlike GAZ, KamAZ hasnt reduced the production this year. In late 2007, KamAZ was willing to widen the output from 50,000 to 63,000 in 2008. Now, however, the sources apprehend the production decline of 20 percent instead of the increase.

GAZ and KamAZ were the first automobile makers of Russia to speak of production decline in the wake of the global financial collapse. AvtoVAZ said it is thoroughly studying the market situation, but has no intention to trim the production target for 2008 (974,000). The comments of Sollers (former Severstal Avto) were similar.
www.kommersant.com

All the Article in Russian as of Oct. 08, 2008

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