OREANDA-NEWS. November 16, 2010. In 9M2010, AvtoVAZ upsized its RAS revenue by 56.9% to RUB 95.43 bn, up from RUB 60.8 bn y-o-y. The plant’s 9M2010 net income totaled RUB 622 mn, vs. a RUB 19.71 bn net loss in 9M2009. Gross income topped RUB 5.32 bn, compared with a RUB 2.49 bn loss a year earlier.

Financial indicators advanced on the back of a rise in production and sales numbers, thanks in no small part to the government cash-for-clunkers program and the improved productivity of the automaker’s existing production capacity. Car sales brought in 80.9% of the company total revenue in 9M2010, up 51.3% y-o-y. “The surge in proceeds from car sales by 138.43% y-o-y in 9M2010 was mainly due to an upturn in margins.

Higher sales had an upward impact in revenues, too, driven by increased consumer demand for cars sold under the government-sponsored cash-for-clunkers program, launched March 2010”, the company said.