Bogdan Motors boosts car production by 39% y-o-y in 5M11

Bogdan Motors (UX: LUAZ UK) increased passenger car production by 33% y-o-y in May 2011 to 1,689 units, parent Bogdan Corporation reported yesterday in a press release. Passenger car output was up 39% y-o-y in 5M11 to 7,372 units. Vitaly Gorovoy: The company plans to produce no less than 30 ths cars this year and sell about 45 ths vehicles in 2011E. We are more conservative and expect Bogdan Motors to sell about 29 ths units.