The production in GAZ Group stopped on Oct.6 through Oct. 13, the company's spokesperson Oleg Gamov announced.
Thus GAZ is trying to protect itself against possible aftermath of the financial crisis.
As Russian business paper Kommersant reports, suppliers of components as well as car dealers do not have the money to pay for supplies or to buy out the ready-made cars.
At the same time Oleg Gamov assured the reporters that there's nothing to worry about. “The company itself has the situation under control. We do not foresee decline in our profitability or in profits,” he said.
Another Russian car producer AvtoVAZ Company is reported to be experiencing similar difficulties. Though AvtoVAZ has not stopped its production yet but it may happen anytime, independent experts say.
In result, the whole sector of Russian economy is suffering from financial crisis influence.
Author: Ksenia Kochneva
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Crisis Impact On Russian Car Market
The Russian GAZ Group has halted its LCV production, AvtoVAZ output break is not out the possibility
