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Avtovaz reschedules corporate holidays from summer to April due to shortage of components

The decision will allow accumulating the necessary component inventory for more stable operations at Tolyatti and Izhevsk facilities starting April 25, as well as in May 2022

MOSCOW, March 16. /TASS/. Avtovaz has rescheduled the corporate holidays previously planned from July 25 to August 14 to April 4-24. The move relates to the shortfall in delivery of electronic components and with the purpose of preventing a reduction of wages of employees, the press service of the company said in a statement on Wednesday.

"Due to the ongoing crisis in supplies of electronic components and in order to prevent a major reduction of employees’ wages Avtovaz announces rescheduling of the corporate holidays planned from July 25 to August 14 to April 4-24," the statement said.

The decision will allow accumulating the necessary component inventory for more stable operations at Tolyatti and Izhevsk facilities starting April 25, as well as in May 2022, the company added.

Avtovaz Group manufactures cars in full production cycle and auto components for two brands - Lada and Renault. The group’s facilities are located in Togliatti - Avtovaz, Lada West Togliatti, as well as in Izhevsk - Lada Izhevsk. In 2021, Avtovaz increased sales of cars on the Russian market by 2% to 350,700 units, whereas Lada’s share in the segment of passenger cars and light commercial vehicles slipped from 21.5% in 2020 to 20.9% in 2021.

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