Bogdan Leads Automakers by Car Production Growth in 1Q08

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Сompany, ths units    1Q07      1Q08  Chg yoy

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ZAZ                              24,963    26,685      6.9

Eurocar                        7,060     8,232       16.6

Bogdan (LUAZ:BUY)   13,046    18,930     45.1

KrASZ                         5,255     5,909        12.4

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Source: Company data  

Inna Perepelytsya: Bogdan (LUAZ: BUY) paced Ukrainian automakers in terms of output growth over 1Q08, increasing production 45.1% yoy in 1Q08 with 18,930 units. Given the market’s strong momentum and Bogdan’s plans to expand capacity, we fully believe it will meet our full year forecast of 95,434 units (see our Automotive Industry report of April 11).