AvtoKrAZ increases production by 15% y-o-y in 9M11

AvtoKrAZ (UX: KRAZ UK, N/R) boosted its output by 15% y-o-y to 736 trucks in 9M11, Interfax reported yesterday. Output in September was 105 units. Vitaly Gorovoy: The company recently decreased its output target for 2011 to 1,500 trucks. But based on 9M11 results and RUR devaluation (13% since the beginning of September 2011), which increases the cost of AvtoKrAZ’ trucks on the Russian market (around 40% of the company’s export in 6M11), we do not expect the company to be able to achieve its plans.