AvtoVAZ Sales Soar 60%

AvtoVAZ said Tuesday that its year-on-year car sales grew 60 percent in July, benefiting from the state-sponsored cash-for-clunkers program and continued economic recovery.

Almost half of the 51,800 vehicles sold in July were part of the program.

The program awards 50,000 rubles ($1,656) to car owners willing to trade in 10-year-old locally produced vehicles for new models. In the first seven months of 2010, AvtoVAZ sold 272,600 autos, an increase of 28.4 percent on the year ago period. 

(Reuters)


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