GAZ Lowers 2011 LCV Production Forecast by 4.5%

According to company president Bo Andersson, GAZ Group will produce 3,000 less LCVs in November and December to avoid excess inventory. With the 15,000 units planned for the last two months of 2011, the company will produce 47.5% more vehicles compared to its 2010 output. In September, the company revised production plans of LCVs from 100 thousand to 110 thousand units, but as orders for its Gazelle and Sobol vehicles - considered to be the most popular LCVs on the local market – started to decline, a further adjustment had to be made.