RIA Novosti reported that Russia's largest carmaker AvtoVAZ posted on Friday a 500% YoY increase in net profit calculated to Russian Accounting Standards to RUR 4.1 billion (USD 172 million) in the first quarter of 2008. The figure rose by over 7% YoY against October to December 2007.

AvtoVAZ’s net profit went up 57.3% YoY to RUR 3.95 billion (USD 166 million) in 2007, when it sold a record 663,500 cars.