KAMAZ explained billions of losses at the end of 2024

From the report of the auto giant follows: according to the Russian standard of accounting (RAS), the net loss of KAMAZ in 2024 amounted to 3.35 billion rubles against the profit of 11.9 billion rubles according to the results of 2023. The revenue over 12 months decreased by 8.8% to 323.4 billion rubles. The press service of KamAZ explained the financial result by “cardinal changes in the economy under external pressure.”

The head of the KAMAZ press service stated BUSINESS Online that “the situation with a loss should not be dramatized.” “We had financial results and more bad ones, however, for the past few years we worked with good profit, so we have a pillow of safety,” the auto giant emphasized. The plant’s statement says that the losses are partly related to “our efforts to fulfill the tasks of ensuring the country’s transport security.”

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Billion losses in 2024 were predicted and expected, since KAMAZ continues the import substitution program, does not stop investment projects to modernize the production and development of the model range. The market situation for the Chelninsky Automobile Plant is difficult: according to Avtostat, the Russian automaker for the first time in history gave way to the “Chinese”.

However, KAMAZ competitors have to pay an increasing utilsbor. The largest seller of dump trucks in Russia – Chinese Shacman – was faced with claims from the Prosecutor General’s Office. Popular trucks from the Middle Kingdom can be recognized as unsafe.

And Kamaz came