Gross profit of the car plant in 2023 fell by 74.6%
Moskvich published its financial report for last year (according to Russian accounting standards). As it turned out, in 2023 the net loss of the capital's automaker increased by 3.6 times– up to 8.6 billion rubles. And gross profit decreased by 74.6%.
The total debt of the enterprise for 2023 increased by 2.5 times – up to 42.6 billion rubles. On a positive note: the company’s revenue increased by 38.9% – up to 59.2 billion rubles.
As previously reported by the head of KamAZ, Sergei Kogogin («Moskvich» is under the parity management of the government of Moscow and KamAZ), in order to break even, the plant needs to produce 40 thousand cars per year. Produce and, of course, sell. In 2023 «Moskvich» produced 31 thousand cars, and sold – 15.3 thousand cars.
Meanwhile, «Moskvich» is preparing to switch to small-unit car assembly. The company is already working on welding the body of the crossover «Moskvich 3».