PJSC UkrAVTO Ukrainian Automobile Corporation, a large operator on the Ukrainian vehicle market, is going to close four large branches in connection with operational needs.

The decision was taken by the corporation's board on June 30, the company reported in the information disclosure system of the National Securities and the Stock Commission.

Universal Motors Group, which is an official dealership for TAT and JAC trucks, and I-VAN and ZAZ buses, as well as Illichivsk logistics center and Kyiv's largest licensed customs warehouse "UkrAVTO Kyiv Main Center" will be closed.

The corporation will also close UAK-1, a filling station chain operator.

The corporation told Interfax-Ukraine that "the company had to take measures to adapt its structure to new conditions to reduce operational costs because of a dramatic reduction in sales on the market of new cars in the country."

"These branches stopped working long ago, therefore a decision was taken to liquidate them," UkrAVTO's press service said.