Bogdan Motors’ car production rises 41% y-o-y in 4M11

Bogdan Motors (UX: LUAZ UK) increased passenger car production by 31% y-o-y in April 2011 to 2,028 units, parent Bogdan Corporation reported yesterday in a press release. Passenger car output rose 41% y-o-y in 4M11. Vitaly Gorovoy: Bogdan Motors’ production results confirm our bullish view on its shares. The company rolled out 20,100 passenger cars in 2010 and we forecast it to increase that figure by 30% y-o-y in 2011.