Sales of AVTOVAZ will save a billion dollars

Sales of AVTOVAZ will save a billion dollars The Russian automaker AVTOVAZ completing negotiations with the Bank on the loan is $ 1 billion. According to "Kommersant", the money the company needs to defer payments to dealers for cars. In the warehouses of the factory has accumulated about 100 thousand cars.According to sources, among which several are working with plant bankers, and representatives of the company, negotiations are almost complete and a decision on the allocation of credit can be taken next week.A loan of $ 1 billion was required Togliatti company "to cover expected cash shortages". In the current economic situation, when banks reduce the issuance of loans, dealers are unable to buy the plant declared volumes of cars. The sale of AVTOVAZ was almost paralyzed. According to the publication, in the warehouses of the enterprise has accumulated about 100 thousand cars, which is comparable to a two-month production capacity of the plant.According to a source at the plant, AVTOVAZ intends to revise its relations with dealers: he will be ready to give them the deferred payment for a period up to 40 days (now the machines are shipped mainly by 100% advance payment). Credit Vnesheconombank "approximately corresponds to the volume of current assets plant for two months", according to "Kommersant". Thus, 1 billion, with some margin to cover arrears dealers for the period. According to the publication, today, the President of AVTOVAZ Boris Aleshin dealers will present a new concept of their work at the meeting in Moscow.Recall that the revision of the development strategy has involved many companies of Russia. So, one of the largest retailers in the Russian market "Atlant-M" decided to terminate the supply of cars in Russia in China brands Brilliance, Changfeng, JMC, Shuanghuan. Gorky automobile plant, in turn, stopped the production of commercial vehicles for four days. According to representatives of the Gas, the decision was made to avoid overstocking of warehouses.dni.ru18.10.2008.

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