OREANDA-NEWS. French automaker Renault in the short term will reduce the costs and volume of production of cars in Russia, but it keeps the long-term plans, said the President and the CEO of company, Carlos Ghosn.

"Renault will reduce the costs and volume of production of cars in Russia in the short term due to the need of the company to adapt to the current market conditions," - the agency "Prime" cited Carlos Ghosn. At the same time, he said, in the long term, the company is not going to cut the production and scale of presence in the Russian market - the alliance Renault-Nissan-AVTOVAZ still has the goal to increase market share in Russia to 40%.

Meanwhile, at the end of 2014 the concern Renault received from the participation in AvtoVAZ 182 million Euros of loss. In comparison with 2013 year the loss of Renault increased more than 5 times, including due to the devaluation of the ruble.

In this regard, the financial director of Renault, Dominique Tormann, said that the planned in the current year consolidation of indicators of AvtoVAZ in the financial statements of the French company will not happen "probably". According to "Za rulem.RF", such move will help Renault to reduce the reported losses from falling sales in Russia, as well as to avoid negative impact on profit in the global markets, which rose more than analysts' forecasts.

"Given the terrible situation in the Russian market, it is a timely measure," - the analytics of consulting company UBS commented the statement of Renault.

Earlier, the head of the Renault-Nissan Alliance, Carlos Ghosn, said that in the current year, sales of cars in Russia will continue to decline. "A third of the Russian market will disappear in the next two years. Already it is bad. According to the forecast, which we have for 2015, it should be the light at the end of the tunnel, but will it be so - it is unknown", - said Carlos Ghosn.