GAZ Automotive Company Reports Results Of 2001 Operations

The sales volume of the GAZ company reached 30 billion rubles (about $984.3 million) in 2001. A representative of the Gorky Automobile Plant's Press Service told RBC that spare parts worth 1.9 billion rubles (about $62.3 million) were manufactured over the same period. Additionally, the company has substantially reduced the debts to its creditors since December 1, 2000, when it was acquired by SIBAL. The average price of an automobile was 126,600 rubles (about $4,154). During 2001 GAZ repaid its debts to Severstal and ZMZ. In 2002 it is planned to make at least 17,000 vehicles and spare parts worth 250,000 rubles (about $8,202) a month. As was reported earlier, the company plans to derive a net profit of 30 million rubles (about $984,300) from operations in 2001. As it was reported earlier, the Gorky Automobile Plant made 191,492 vehicles in 2001. GAZ also supplied 8,825 sets of parts to other assembling plants. In 2000 GAZ assembled 227,673 automobiles. According to preliminary information, it is planned to make 201,529 vehicles in 2002.