OREANDA-NEWS. March 11, 2011. Bohdan, the major car maker in Ukraine, has boosted production of passenger cars by ~74% yoy to 1,918 units in Feb 11, the company spokesman announced Mar 9. It was also reported that Bohdan lifted production of commercial vehicles (Hyundai and Bohdan-2310) more than twofold yoy in Feb 11. Meanwhile, the company produced just two buses last month (-95% yoy).

We consider the news as POSITIVE for LUAZ. The output dynamics flags the demand for Bohdan cars firms further both on the domestic and Russian market. We point the company has outperformed vs Dec 10 (~4% mom) when 1,850 cars were produced.