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Report: Russia's AvtoVAZ finally turns a profit after many years

During the first quarter of 2010, Russian automaker Avtovaz lost 2.6 billion rubles ($85M U.S.). In the second quarter it made almost a third of that back when it posted a net profit of one billion rubles ($32.7M U.S). The spike came courtesy of Russia's cash-for-clunkers program, which more than doubled the firm's sales over Q1 numbers to 149,100 cars.