OREANDA-NEWS. On 25 June annual meeting of AVTOVAZ shareholders took place. The participants discussed the main results of the company’s activity, which improve despite the overall decline in the Russian economy. During the first 5 months of 2015 LADA increased its market share by 1.3% up to 18.7%. Today 88% of vehicles are assembled without defects vs. 56% in 2013. The total amount of defects on the assembly lines decreased by 42% in 2014.

At the end of the meeting during a short briefing Sergey Chemezov (head of Rostechnology corporation) told reporters that AVTOVAZ investment program will remain unchanged. So about 30 billion roubles will be invested in the enterprise, as it was planned before. AVTOVAZ president Bo Andersson confirmed earlier announced medium-term plans:

- We have three medium-term objectives for AVTOVAZ. The first task is 20% market share in Russia. The second one is positive free cash flow. The third one is 6% operating profit. As for the first and the third goals, the products, which are behind me or on my side (the Vesta and the XRAY concept cars were displayed behind the president - Ed.) will help to achieve market share and profitability. But, unfortunately, it decreases our free cash flow ... We will focus on new products, improve the quality and equipment of our current model lineup and we – I and Mr. Zaitsev as the union representative -  will continue to work to improve labour productivity. Another task for this year is to make our supplier base competitive, because nothing will be without a competitive supplier base.