AvtoVAZ CEO Sokolov: the plant does not use targeted government support

The top manager gave an interview to Izvestia and did not agree with the opinion that the auto giant is going to dominate the Russian market through the use of administrative resources. Maxim Sokolov emphasized: in recent history, over the past ten, or even fifteen years, not a single targeted support measure from the federal budget has been provided for AvtoVAZ.

The head of AvtoVAZ recalled that support from the Ministry of Industry and Trade applies to the entire industry and applies to manufacturers who have localized their products on the territory of the Russian Federation. Maxim Sokolov called this strategy “a protective measure inherent in absolutely all economies, even completely open ones.”

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The top manager made it clear that he was fighting for the entire Russian market, and was not trying to achieve preferences for his enterprise. Maxim Sokolov directly stated that he is in favor of open competition, but now competition with Chinese brands cannot be called completely fair. As an example, the head of AvtoVAZ cited the cost of a loan: in China you can take out a loan at 3.5-4%, and in Russia the lending rate is close to 20%.

Another difficult point is the closedness of export markets. Due to sanctions pressure, AvtoVAZ has not yet been able to use its export potential. However, by 2030 they plan to sell up to 100 thousand cars abroad: this target is laid down in the development strategy of the Volzhsky plant.

Zhigulevskaya Mile 2024