Ghosn backs AvtoVAZ efforts as losses widen

As Russia's market slumps more than 30%, the poster child for Russian manufacturing continues to take a beating due to its heavy exposure to the local market. AvtoVAZ Group’s revenue for the first nine months this year has dropped to Rouble 131.2bn (US$2.04bn) from Rouble 135.2bn in the same period last year. Its operating loss in the January-September period widened to Rouble 14.5bn from Rouble 10bn while output across the Lada, Renault, Nissan and Datsun brands fell 9.8% year-on-year.