MOSCOW-Four months after taking the helm of struggling Russian automobile giant Avtovaz, Renault executive Nicolas Maure has set his sights on returning the Lada maker to profit by 2018, reports BSS.
Maure, who headed Romanian carmaker Dacia for just over two years before taking on his new position, took over Avtovaz, which is majority-owned by the Renault-Nissan Alliance, in April amid major losses in the Russian auto industry struggling with recession.
Hit hard by Russia’s economic crisis, Avtovaz earlier this year was battling bankruptcy fears after its net losses almost tripled in 2015.
That year the Russian car market slumped 36 percent amid …read more
Source: The Bangladesh Today
