Alexander Nikonov Avilon COO. Avilon Group and Hyundai Motor CIS announce the opening of the Hyundai city store Avilon

In his speech at the opening of the Hyundai City Store, the executive director of Hyundai Motor CIS, Alexei Kalitsev, called this project either a future or an experiment. Although the new sales channel is far from the first for the Korean brand (Hyundai has already launched similar boutiques in five countries, including England and Spain), Mr. Kalitsev did not share his plans.

But his colleague Alexander Nikonov, the operating director of Avilon, who stood at the origins of the project, willingly voiced the data. In a room of about 100 sq. m, about 30 million rubles were invested, which, if everything goes as it should (350-400 cars per year), will pay off in three years. Although the acquiring commission (payments using bank cards) puts a lot of pressure on the margin, it is 1.95% for Avilon.

What is the new brainchild of partners? It is difficult to call it a showroom in the usual sense: only a newcomer to Hyundai, the second-generation Solaris sedan, was housed in a small room. However, remotely it is offered to buy not only it. Next to the real model, there are digital screens with configurators, where you can independently select a car from the list, leave a request for a test drive, or immediately purchase your favorite model by drawing up a sales contract. The balance of funds and the act of acceptance and transfer of the purchase are postponed until the next visit, when the car is ready for delivery.

The minimum prepayment to be made from the card is 25 thousand rubles. It will allow you to book a car and be sure that you will get a particular car. Hyundai and Avilon are confident that this way of shopping will appeal to customers of the shopping center, which is visited by about a quarter of a million visitors a year.

Of course, there are more questions in this story than answers. For example, what is still prevented Avilon's customers from using the online car purchase (this service has been available on the dealer's website for almost a year) or leaving a pre-order by coming to a standard car dealership? The key point, the partners answer, will be the very unusual format of the store, its cozy atmosphere, in which there are no annoying sellers, but only selection consultants. Customers here buy without too much fuss.

In recent years, Russians have really been actively developing online shopping for other goods, although 2016 was unsuccessful for the Network. ANDresearch firm Nielsen recorded a 12 percent decline in online sales activity across major product groups,such as electronics, books, music, cosmetics, tours, tickets and food. There are no cars on this list. Most of our compatriots need to feel and smell something for which it is proposed to shell out hundreds of thousands of rubles, and trust in officials is still not at the highest level.

The CEO and COO of Avilon will talk about the results of 2016, the reasons for the growth in revenue and sales in units, as well as the reasons for the decline in margins. We will talk about the features of the holding's business in 2017, goals, average prices, and difficulties. About how one of the market leaders survives in this difficult time. According to AutoBusinessReview, in the first half of 2016, in terms of specific revenue per one full-time employee, Avilon AG confidently ranks first among automotive holdings.

Andrey Pavlovich, Chairman of the Board, General Director, and Alexander Nikonov, Operations Director of Avilon Group, are with us today.

You will learn about the results of 2016 of Avilon company firsthand, about the reasons for the growth in revenue and sales in units, as well as about the reasons for the fall in margins. We will talk about the features of the holding's business in 2017, goals, average prices, and difficulties. About how one of the market leaders survives in this difficult time. According to AutoBusinessReview, in the first half of 2016, in terms of specific revenue per one full-time employee, Avilon AG confidently ranks first among automotive holdings.

- Andrey Pavlovich: Demand for luxury cars in the past year, indeed, has grown. Aston Martin, Bentley, Ferrari and Rolls-Royce are selling better than we expected. Moreover, we sell Aston Martin cars for the first year, and Ferrari and Bentley for the second. Our revenue also increased by 12.5% ​​compared to 2015. But it should be noted that the marginality has decreased. Thorough reporting will be released towards the end of February, but already now we can say that our figures for EBITDA and gross margin are lower by about 15%. This is caused by two factors. The first is the oversaturation of stocks with cars in the second half of the year. The second is the financing of warehouses. In Europe, for example, cars are shipped to a dealer under a bank guarantee of 0.5% per annum. It has practically no costs for the content of the runoff. In our situation, the average rate is around 13%. For a low-margin business like auto retail, these are essentially prohibitive tariffs.

– So dependence on banks and importers is the main factor?

- Alexander Nikonov: Yes. There are three factors that reduce margins. The first is related to discounting cars. That is, it is a competitive struggle between dealers. The second is funding. The role of financing this year is significantly higher than in the past. In 2016, we paid significantly more than one percent to banks (for repurchased stocks and others). And the third factor is the decrease in revenue and profit of the car service. After all, the service is a more marginal direction, compared to the sale of cars. And therefore, despite the fact that our sales increased, revenue increased, last year in terms of income turned out to be worse than 2015.

- What influenced the increase in revenue?

A. Nikonov: Rising prices.

- Only?

A. Nikonov: Basically, yes. However, there are many factors that affect revenue. The key, of course, is rising prices. But there is also a model-mix of cars sold by us, it is also changing. In one year, fewer Fords may be sold, but more Hyundais. Another has more Mercedes-Benz, fewer BMWs, or more Bentleys, but fewer Jaguars and Land Rowers. The cost of cars is different everywhere. Therefore, model-mix significantly affects the revenue figure.

- Has the cost of cars increased in all segments?

A. Nikonov: Yes, the average increase for the year was 45%.

A. Pavlovich: Correct, Alexander Vasilyevich, for two years the increase was 40%.

- I also have other numbers. For the first half of last year, the increase was 13.5%.

A. Nikonov: Yes, a price increase is a complex criterion that depends on a number of factors, where there is, maybe, just an increase in the price list, but then support. Therefore, if we are talking about the real average cost of a car, which consists of all models ....

A. Pavlovich: The amount of the deal, I would say. For example, the E-class cost two million rubles, and after the release of the new generation model, it began to cost three million.

A. Nikonov: That is, the average price is a complex parameter that we look at, and it has increased. This is an ongoing process.

– What are the growth points of the Avilon Group in terms of revenue in 2016?

A. Pavlovich: The first is the luxury segment. The second is sales of used cars - Avilon Trade. This direction is developing very actively. And the third is the volume of sales of spare parts.

A. Nikonov: And the fourth, surprisingly, is "mass cars".

– What do you expect from 2017?

A. Pavlovich: Complex issue. To be honest, I can’t say that two years ago we were guessing on coffee grounds, but we looked to the future with optimism. Even at the end of 2014, there were still optimistic forecasts. We hoped that there would not be such a strong fall in the market. We look at 2017 with working optimism. We understand that if there are no global currency jumps or a surge of extraordinary activity, then it is necessary to focus on such precise, clear, specific goals related to sales. Here with advertising activity, here with cost minimization, there in after-sales service. Therefore, the overall goal is to take a leading position in each of the brands in the Moscow market and increase the level of customer satisfaction, value their time, reduce the time spent both on purchasing a car and waiting for a car from the service. Here is a sample plan.

- So you are going to shorten the chain of managers who send the client from department to department?

A. Nikonov: Re going.

– How radically will business processes be changed?

A. Nikonov: There will be no revolution here next year. But in the next three years, I think there will be changes. Service processes will be simplified.

– Conceptually approach the “one window” format?

A. Nikonov: Yes.

– Did I understand correctly that you evaluate 2016 as a kind of bottom?

A. Nikonov: Right.

- And the goal is not so much to keep as ...?

A. Nikonov: Right. There are several things. It is clear that we are not economists, we are people who are engaged in small business on earth. And we are not responsible for the macroeconomic situation, although globally we do not see an improvement in it in 2017. This is the first. Secondly, brands give us their forecasts, and they are all waiting for market growth within 5-10%. We are more pessimistic and assume that the market will remain at “zero” in the worst case, plus 5% at best. And we do our internal budgeting according to the upper limit. Plus 5% - this is the goal that we set ourselves, without reducing our share in our brands and with the main emphasis in our work on quality. What they said is quality, loyalty, customer satisfaction.

- Goals for dynamic development, development, conquest?

A. Nikonov: Not time, not time.

- Not the time. To keep a share, right?

A. Nikonov: Yes.

A. Pavlovich: There are examples of companies that have aggressively expanded their portfolio. Today, we are building relationships with brands, with importers, a competitive environment within Moscow with a 2.5-fold decrease in sales. At the same time, dealerships have not gone anywhere. In their place, you can’t just open a cinema or some kind of shopping center, shopping mall. Accordingly, everything works. The competitive environment has become tougher. And, of course, there are a number of examples when companies are on the verge of a profit-loss balance. This is what Alexander is talking about now about “not the time”. However, we have some kind of organic development within ourselves. You were at the opening of our Audi center. We are starting construction of our Audi, Mercedes-Benz dealership at ZiL. We will also look at the branches of Avilon Trade (used cars) in the same place, on ZiL. We will look in this direction, specifically in the development of sales of used cars, different opportunities, perhaps different sites, different small centers to increase this activity. We have opened a boutique in the center of Moscow - on Petrovka, 15. We invite you, please, to visit. This is the first multi-brand boutique - "Avilon Aura" - in the direction of sales of luxury cars. Here is the concentration of guests and residents of the capital, the center of the capital, where in a convenient place you can quickly, spending 5-15 minutes, get acquainted with a new fashion luxury car without a long trip to one place or another. It doesn't matter where your showroom is - outside the Moscow Ring Road or here, on Volgogradsky Prospekt. Either way, chauffeured or not, you take the time to come, see, chat, and so on. The city center, Petrovka, is the place where you can combine a business meeting and see an emotional novelty in 10 minutes, suggest your future choice. So let's see, analyze how this boutique will work. And, perhaps, it will be the first at the beginning of our journey, when we will open small multi-brand boutiques under our name "Avilon", focused on attracting customers for the sale of used cars, premium, luxury segment, in fact, for the convenience of customers.

- It turns out some contradiction. It seems that there are no active goals for development, there is no goal, not the time ... It seems that such large-scale projects ...

A. Pavlovich: What is meant by "active development"? When you open a small boutique, this is one amount of investment. When you are required to build a dealer center for one billion rubles, this is different.

- I understand that it will be difficult on the territory of ZiL ...

A. Pavlovich: Let me explain. On the territory of ZmL - a project coordinated very carefully and for a long time with our respected partners (Mercedes-Benz, Audi). The project is important both for importers and for us, and it is an integral part of the development of investments. This is not an expansive step when you suddenly need to double your revenue and become some kind of macro retailer for your image and for some further steps. This is a planned work history.

So, is it a necessity?

A. Pavlovich: Yes. This is a must.

A. Nikonov: Let me explain if something was not clear. There are started projects. We are not closing any projects. We will continue them all and bring them to the end, in particular ZiL, this project is more than one year old. There are previously planned ideas, in particular, projects related to the development of the trade-in business. We don't roll them either. But if you ask about the extensive development of Avilon, then for 2017 there will be no extensive development - obtaining new brands, buying new dealerships or building something that was not planned before - will not. Still, this will not happen, and this is not the time.

- Clear. That is what you said earlier...

A. Nikonov: All finished.

And the rumors that...

A. Nikonov: About death? Greatly exaggerated.

– No, Rolf is building Toyota and Lexus dealerships across from Avilon.

A. Nikonov: Build, well done. Let them build.

A. Pavlovich: Firstly, “on the contrary” is really a rumor. Across from us is the Renault factory. And it is impossible to build anything there. And on the right side, closer, behind the third transport ring, the Rolf company is building a dealership, in my opinion, Toyota.

Will they interfere with your plans in any way?

A. Pavlovich: We think this will improve our performance.

A. Nikonov: We count on synergy.

A. Pavlovich: We expect that, among other things, a greater number of customers will be attracted to the location of this zone.

- But plans for cooperation with Toyota, Lexus, I understand that for this year, next, are now closed or postponed?

A. Pavlovich: There are no closed doors in any business. That's why he is a business, that he starts with something - sometimes with a letter, sometimes with a conversation, sometimes with a handshake. You correctly noted why and why we are building Mercedes-Benz, Audi - in order to be inherently, cardinally correctly present in the quality automotive business in Moscow. I hope that with this example we will once again attract the attention of professionals, such respected Japanese brands. Therefore, let's hope that in the future Toyota will resume tenders for development in the city of Moscow. And we will be happy to work in this direction.

A. Nikonov: I will add Andrey Nikolaevich. Still, auto retail today is a heavy, low-margin business. This is a B2C business. That is, we are at the forefront, we communicate with each end client. These clients have a lot of tasks, they need to be served with high quality, they compare us, and therefore it is hard work. There has been no easy money in recent years, and the level of development of our Russian automotive market is very high by world standards. Therefore, maintaining this level, being a leader is a difficult task. If we talk about the business with which brand or which line of business brings in the most revenue, then we analyze in all aspects. And this is the trend of recent years, car sales bring both revenue and profits more than after-sales service. However, both margin and revenue are shifted from cars to some other additional types - such as car insurance, car loans - that accompanies the direct sale of cars.

The largest part of revenue and profit is generated by premium brands - Mercedes-Benz, BMW. Despite the fact that the pace of development for these brands is not the same, nevertheless, this is what generates the main revenue for us - both in sales and in service. The luxury segment and our mass brands are somewhere on the same scale.

– Are there any forecasts of whether marginality will eventually shift towards the sale of financial products (F&I)?

A. Nikonov: Here we need to look at the world level, it happened everywhere, and sooner or later it will happen here.

– Not next year?

A. Nikonov: Not next year.

- Distant prospects.

A. Nikonov: Although already now there are brands whose margin from a car is much less than the margin from by-products. Of the novelties of the next year, we will do a pilot project with the Hyundai brand. It will be a digital boutique that sells cars, if possible, without our employees. And we will carefully analyze and see how it works. That's probably the only thing that can be so "delicious" to tell.

- Interesting. We used to talk about plans - about merging with some businesses. Andrey Nikolaevich, were there plans after all, or did they come to naught?

A. Pavlovich: Were. There were plans, there were meetings, and so far no agreements have been reached with anyone. Therefore, there is nothing to talk about.

- I would also like to talk about fleet sales, Avilon has always been a leader in this area. According to our data, in the first half of the year you grew by 23%. Now how is this direction developing? Does it depend on government policy?

A. Nikonov: The direction this year received a second wind. Indeed, there is growth there, and there is growth in the commercial sector. Government purchases, rather, declined. And, apparently, the state has where to spend money.

They impose restrictions on the cost of the car.

A. Nikonov: Introduce cost restrictions that you have this question - has this affected the car market? Generally speaking, yes, it did. Luckily, we are lucky to have brands in our lineup that meet the requirements of officials and government restrictions. And if some state-owned company can no longer buy BMW, then it can buy Hyundai. And this is the choice of the state, which cars to drive. We can satisfy both one and the second. But overall, the public sector has declined, and public sector purchases have declined. But the commercial sector has grown, and this is due to the fact that 2016 is a time for fleet renewal for both global customers and mid-sized firms. Plus, new types of business have opened up, for example, car sharing, which we did not have before. Now car sharing companies are also car buyers. These are new types of business. Therefore, the direction of corporate sales (both in 2016 and, we hope, in 2017) is developing quite actively.

Interviewed by Anastasia Kalinina

Listen to our podcasts in traffic, while jogging or just over a cup of coffee.

Recall that a few months ago, State Duma deputy Vasily Vlasovrevoke licenses of dealers caught twisting mileage. But it is one thing - civilized market participants, legal entities, and quite another - private entrepreneurs and sellers, whose activities are now not regulated by law. They don't care about such "threats".

According to ROAD President Oleg Moseev, last year more than five million used cars changed owners. According to various estimates, from 10 to 20% of the cars sold at the same time had a dubious history. With a total fleet of 50 million vehicles throughout Russia, the volumes are serious. And twisted runs here are just the tip of the iceberg. Past accidents and their consequences, collateral, search activities - all this also makes it impossible to sell the car. Unless, of course, her seller is clean on hand ...

Therefore, the audience expressed their views on what could in the short term give an effective rebuff to the scammers.

Linking mileage to OSAGO policy

Evgeny Ufimtsev, Executive Director of the Russian Union of Motor Insurers, considers linking data from the odometer to the OSAGO policy the most effective way to combat twisted mileage. Recall that in order to drive a vehicle, each car owner must issue - and subsequently renew - a civil liability policy. If you make entering data on the current mileage of the car mandatory, it will be more difficult for fraudsters to manipulate them.

By the way, in the Ministry of Finance, according to Ufimtsev, a bill is already being discussed, according to which it will be calculated, including taking into account the technical condition of the car. Amendments are proposed for consideration by lawmakers (most likely this will happen already in the spring session), which determine the control over activities. In particular, at the first stages, photographic recording of the inspection process itself will take place, and later - video recording. “Nothing prevents, when carrying out planned activities, also fixing the dashboard of the car with the current mileage at the time of the MOT,” the executive director of the PCA believes.

Electronic PTS on guard of mileage

Another idea was expressed by Ilya Minkin, CEO of Electronic Passport JSC (part of the Rostec structure). Recall that from July 2018, all new technical means will be received instead of a paper passport. According to Minkin, in the near future, many importers and car manufacturers are ready to start processing them within the framework of the transition period. Moreover, the document will be the same for the five EEC member countries (Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia). Instead of the current 21 positions containing information about the car and its owner, their number will gradually increase to 150 in the electronic document. Among other things, there is an idea to indicate in the EPTS and the mileage when performing certain actions.

Car dealers stir

The market participants themselves are also in favor of b O greater transparency. The operational director of Avilon and part-time vice-president of the ROAD, Alexander Nikonov, spoke about several directions in which it makes sense to move. The first is to determine at the legislative level the responsibility for twisting the mileage. The more sources of data on the car's mileage when performing certain actions with it (from maintenance and repair to registration when changing ownership), the easier it is to identify the violator, Mr. Nikonov believes. The next direction is a transparent service history of the car. In Avilon itself, through its website, they are already offering potential buyers a complete car diagnostics card when accepting a trade-in. An example can be seen.

Finally, there is cooperation between car dealers and aggregators, through which up to 90% of all ads for the sale of cars pass. Car centers are ready to share information about the repairs made with them, says the vice president of the ROAD.

FIS STSI M for all

Negotiations are also underway with law enforcement officers to make the mobile version of the Federal Traffic Police Information System (FIS STSI M) available to citizens. Negotiations are not easy, but very important. Since 2005, all police officers patrolling the roads have had access to the database (our readers probably have seen how a traffic cop uses their smartphone or laptop computer). The FIS STSI M, among other things, contains data on the registration of vehicles, accidents with their participation, theft (theft), lost or rejected documents and forms, and various restrictions on the use or registration actions.

According to experts who are guided by Western experience, as soon as data on the history of cars becomes more transparent, their prices in the secondary market increase by 10-15%. So the sellers themselves will also only benefit.

How to check the history of a used car

However, even today, when buying a car on the secondary market, there are ways to check it. Including free. We have already written about them more than once, but we will give once again the life hacks that Tatiana Maksimova, Head of the Center for Judicial Work of the Legal Department of Avilon Management Company, announced at yesterday's meeting.

• Several car punching services are available at www.gibdd.ru. We go to the “Services” section and look, say, at the registration history of the required car, using the data on its VIN number.
• On the same site, you can check information about the participation of the car in an accident earlier. Important: data is only available from 2015.
• On the website www.reestr-zalogov.ru you can get an extract, whether the purchased car is in a pledge encumbrance.
• On the website of the Federal Bailiff Service www.fssprus.ru in the "Services" section, you can get a certificate of other enforcement cases in relation to the purchased car.
• Finally, you can break through the car through the portal avtokod.mos.ru.

How not to get lost when buying a used car

The last and very important advice to those who are going to buy a car (including a new one) was given by Anton Nedzvetsky, executive director, leading lawyer of the Moscow Society for the Protection of Consumer Rights. According to him, we ourselves are the main guarantor of the forthcoming deal. Therefore, when buying a car, in addition to its technical qualities, you should definitely pay attention to the signed contract, read it carefully. Banal inattention and haste often leads to troubles.

• Hyundai City Store AVILON is the first digital brand sales center in Russia
• A new concept for online sales of Hyundai cars

March 28, 2017. Hyundai Motor CIS together with AVILON Group announces the opening of the first digital showroom in Russia Hyundai City Store AVILON. The new space is located in the Metropolis shopping center located on the Leningradskoe shosse. The official opening ceremony of the Hyundai City Store AVILON took place on March 28, 2017, at which Oh Ikkyun, CEO of Hyundai Motor CIS, and Andrey Nikolayevich Pavlovich, Chairman of the Board, CEO of AVILON Automobile Group, solemnly cut the “opening” ribbon.

The main speakers of the event on this day were:

Kalitsev Alexey Vladimirovich - Executive Director of Hyundai Motor CIS

Nikonov Alexander Vasilievich - COO of AVILON Automotive Group

Gulyaev Aleksey Vyacheslavovich – Director of Hyundai City Store AVILON

Luc Mugel General Director of the shopping center "Metropolis"

Hyundai City Store AVILON is the first digital dealership in Russia that offers customers a completely new way to buy a new car and meets the needs of today's online shoppers. Now Hyundai customers in Russia have the opportunity to purchase all models of the Hyundai brand almost without visiting the dealership - a truly customer-oriented platform allows you to get acquainted with the brand's models, select the appropriate equipment and make an advance payment, thereby confirming the purchase. The new car will be waiting for its owner at the Avilon dealership, where the customer can deposit the remaining amount. In the near future, the opportunities opened by the Hyundai City Store AVILON will become even wider - visitors will be able to conduct test drives and immediately pay the full cost of the car without visiting the dealership.

Russia is the sixth country where Hyundai opens such a digital showroom. The first similar platform started working in England (Rockar) in 2014, then a similar center opened in Spain (Click2Drive). Hyundai City Stor AVILON fully meets the advanced technologies of the future: digital screens, interactive touch panels, where each customer can independently select a car from the list, leave a request for a test drive or purchase a car they like. The new system offers the customer full control over the buying process.

After the general global crisis of 2008, which also affected our country, the Russian automotive market has been growing for the next three years. This is the usual time for reaching post-crisis indicators in global practice. The beginning of 2012 (to be precise, its first quarter) turned out to be successful for almost all dealers. The growth affected absolutely all segments - both mass brands and premium ones.

This was primarily due to the fact that by the end of 2011 there was a significant shortage of various popular models. Dealers were waiting for deliveries, respectively, buyers were in no hurry to invest their money in cars. Based on this, at the beginning of 2012, manufacturers filled the market with a number of previously limited models. In this regard, the market in the first three months, we observed a significant increase in the region of 20-25% compared to last year.

The growth rate even outstripped the usual seasonal factor. Consumers literally bought cars from the previous model year. From April to July 2012, the growth rate stabilized and stopped in the range of 10-15%, maintaining the usual seasonal level. Since August, we have been waiting for a decrease in the growth rate of the Russian car market, and in November it showed figures identical to last year. Now there are some crisis expectations.

First of all, this applies to budget brands. Their buyers, as a rule, are more acutely aware of the possible negative effects of a slowdown in the economy. With premium brands, the situation is slightly different. As long as there is a slight increase. This is confirmed by the statistics on our automobile holding. Sales of BMW and premium Volkswagen models are growing, while Ford - remain at last year's level. Also now there is a factor of deferred demand. Consumers are waiting for discounts and special offers.

Now many dealers have a large stock of cars. I think that the majority will try to implement it at the expense of New Year's promotions. The same situation has developed in the regions. Previously, they had a shortage of cars, in the same year the situation began to improve.

In the coming year, we expect discounts and discount programs to be the main driver of growth. But it will work, it seems to me, only the first quarter, when dealers will still have a huge warehouse of unsold cars. Then everything will depend more on external factors. Such as, for example, the re-launch of the car recycling program. If this happens, then a new wave of demand may occur.
Taking into account the fact that Russia has a fairly old car fleet and we have significantly fewer cars per thousand people than in Europe, I believe that this is quite realistic. Lowering interest rates on loans can also help. But this is not to be expected. Since the beginning of 2013, some banks have planned even a slight increase, as there is a general trend in the global economy - money is becoming more expensive. It will be possible to keep the percentage of rates at last year's level only with the support of automakers. The average share of credit cars for all brands in 2012 is about 40%. In connection with the above, I do not think that the situation will somehow change significantly in 2013.

Also, the ambitious plans set by manufacturers for the next year may become a significant problem for dealers. This may cause a glut of dealer warehouses, and then it is quite possible that the scenario of the end of this year will be repeated. When large dealers can safely sell cars from their stock, while smaller ones will be forced to literally get rid of them for minimal money, earning only on bonuses from the manufacturer. There is another scenario, when distributors will be forced to reduce quotas due to a large stock. Then consumers may be faced with the fact that not all models and configurations will be available for purchase.

In general, in 2013, the already achieved level of sales volumes is expected to be maintained. Changes can be around 5% in the direction of both increase and decrease. Also, it seems to me, the percentage of sold foreign cars of Russian assembly will increase. This is certainly due to a more attractive price and increased capacity in our car factories.

The volume of services rendered is constantly growing. First of all, this happens due to warranty cars. Over the past three years, there has been a significant increase in new car sales, which has led to a significant increase in service levels. Next year, we expect service and accessory sales to increase by 15-20%. In the future, this may serve as additional support for maintaining dealers.