OREANDA-NEWS. January 13, 2011. Bohdan, the major car maker in Ukraine, expands the output of passenger cars by 91.3% mom to 2,875 cars in Dec, as the company spokesman announced on Jan 11. He also added that the company had produced 19,190 passenger cars in 2010 which is 33.3% higher than 2009.

Millennium Capital considerы the news as POSITIVE for LUAZ. Taking into account the production of Bogdan-2310 model, the company produced a total of 20,111 cars (39.7% yoy) last year, which is 1,111 cars more than the plant’s management planned. We foresee a further advance in the passenger car segment in 2011 driven by the recovery of the retail lending programs of domestic banks in 2H2011. Also expected is at least a 10% growth in the price of cars produced in 2010. Besides, as has been previously reported, LUAZ will also benefit from participating in government programs (trolleybuses, bases and airport coaches production) in the run in for the Euro 2012 European Football Championships Finals.