Technology innovations impact in production of shock absorbers on Russian automotive industry economics

The aim of the article is to determine the key economic and social aspects of technological modernization. The article analyzes measures to improve technological processes at the plant. Moreover, the article evaluates the plant’s efficiency-raising indicators. This article’s relevance stems from its analysis of the economic consequences of modernizing shock absorber production at Pervouralsky Car Components Manufacturing Plant LLC. The research aims to assess the impact of the new technology introduction on the production process, product quality, cost price and competition in the market. Emphasis is on social changes, including effects on employment and labor conditions in the Pervouralsk region. Modernization significantly increased the plant’s profitability indicators due to cost reduction and improved production efficiency. The article also provides some recommendations based on the analysis that improve the plant’s competitive ability so that it can adapt to the changing market situation.