Bogdan Motors cuts car output 23% yoy in 8M12

Bogdan Motors (LUAZ UK) decreased car output 23.2% yoy to 10,716 units in 8M12, the company announced yesterday in a press release. The company also disclosed a net loss of UAH 66.4 mln for 8M12, emphasizing that it has more than doubled in just two months from UAH 31.6 in 1H12.

Roman Dmytrenko: Considering that Russia is the major market for Bogdan Motors and there are currently no signs it plans to lift its recycling fee on car imports from Ukraine (see our news on August 13), we expect to see a further decline in Bogdan’s car output and increase in losses closer to the end of 2012.