The decline in the car market will continue for two years, AvtoVAZ President Nicolas More said in an interview with the Rossiya 24 TV channel.

“We expect the market decline to continue for about two years, and during this period it is necessary to provide support to both buyers and suppliers - in the form of reducing their overhead costs,” he explained.

Mor added that it is fundamental “to have support from banks, VEB - in this case, not only for AvtoVAZ to maintain its leading position in the Russian market, but also to enter other markets,” since financing, in his opinion, is “a critical component of the process "

At the end of 2015, sales volume of the Russian car market decreased by 890 thousand cars (35.7%), to 1.6 million units. Chairman of the Automobile Manufacturers Committee of the Association of European Businesses (AEB), Jörg Schreiber, said in January that the Russian car market will continue to decline this year . According to AEB estimates, car sales could decline by 4.4% to 1.53 million. Schreiber associated the reason for the continued decline in car sales with the weakening of the ruble.

According to the results of the first quarter, the Russian automaker received 8.9 billion rubles. net loss . The company's revenue decreased by 19%, to RUB 39.1 billion. In January-March, sales of Lada cars decreased to 56.8 thousand units.

AvtoVAZ President predicted a decline in the Russian market within two years