Latest news with #Kamaz
Zawya
05-08-2025
- Automotive
- Zawya
Russia's new car sales decline slows in July, Autostat says
The decline in sales of new passenger cars in Russia slowed in July, Russian analytical agency Autostat said on Tuesday, with the first signs of recovery on show as some consumers took advantage of low prices in a heavily oversupplied market. Russia's car market collapsed in 2022 as foreign automakers left following Moscow's invasion of Ukraine. Car sales, a key gauge of economic activity, had been steadily recovering since late 2022, but the market entered a sharp decline this year due to high inflation, soaring interest rates and scrappage fees. Car sales fell 11.4% year on year in July, Autostat data showed, an improvement on the 27.6% slump in June. From January to July, sales were down 23.9% compared to the year-ago period at 651,029 units. Major Russian vehicle producers, including leading carmaker Avtovaz and truckmaker Kamaz, have blamed slowing sales on prohibitively high borrowing costs for consumers and producers, as well as short-sighted import policies. The central bank slashed its key interest rate by 200 basis points to 18% in late July, a move that is already supporting the car sector. Importers have a large stock of cars and are willing to get rid of them by offering discounts and better loan terms, Autostat Executive Director Sergei Udalov said on Tuesday. This supply was met in July with demand from people withdrawing money from their accounts as the central bank has cut rates, he added. (Reporting by Gleb Stolyarov; Editing by Alexander Marrow)
Reuters
05-08-2025
- Automotive
- Reuters
Russia's new car sales decline slows in July, Autostat says
Aug 5 (Reuters) - The decline in sales of new passenger cars in Russia slowed in July, Russian analytical agency Autostat said on Tuesday, with the first signs of recovery on show as some consumers took advantage of low prices in a heavily oversupplied market. Russia's car market collapsed in 2022 as foreign automakers left following Moscow's invasion of Ukraine. Car sales, a key gauge of economic activity, had been steadily recovering since late 2022, but the market entered a sharp decline this year due to high inflation, soaring interest rates and scrappage fees. Car sales fell 11.4% year on year in July, Autostat data showed, an improvement on the 27.6% slump in June. From January to July, sales were down 23.9% compared to the year-ago period at 651,029 units. Major Russian vehicle producers, including leading carmaker Avtovaz and truckmaker Kamaz, have blamed slowing sales on prohibitively high borrowing costs for consumers and producers, as well as short-sighted import policies. The central bank slashed its key interest rate by 200 basis points to 18% in late July, a move that is already supporting the car sector. Importers have a large stock of cars and are willing to get rid of them by offering discounts and better loan terms, Autostat Executive Director Sergei Udalov said on Tuesday. This supply was met in July with demand from people withdrawing money from their accounts as the central bank has cut rates, he added.
Reuters
25-07-2025
- Business
- Reuters
Russia's Kamaz to shorten work week due to truck market crisis
July 25 (Reuters) - Russian truckmaker Kamaz said on Friday it would reduce production and shorten its working week to combat a crisis in Russia's truck market that it blamed on the short-sighted policy of importers and the central bank's high interest rates. Russia's leading carmaker Avtovaz and the Gorky Automobile Plant both said this week that they may reduce their working weeks to four days from five, highlighting prohibitively high borrowing costs that are squeezing demand and hurting producers. The Bank of Russia, which has been under pressure from government officials and business leaders for months over high rates, is expected to slash borrowing costs by 200 basis points to 18% later on Friday, according to analysts polled by Reuters. Kamaz said Russia's market for trucks over 14 metric tons had slumped by 60% in the first half of this year and identified two leading causes. "1. The short-sighted policy of importers of foreign equipment, who, despite all forecasts of a declining market, imported an excessive amount of equipment last year," Kamaz said on Telegram. "2. The central bank's monetary policy, which has led not only to the impossibility of purchasing new equipment with the help of financial tools like credit and leasing, but is also forcing transport companies and others to return equipment leased last year to the lessor." Kamaz said over 30,000 trucks were sitting in warehouses with no demand even at dumping prices and equipment was being offloaded at well below market value. Kamaz said it would introduce a shorter working week from August 1. The company's plight highlights wider economic woes for Russia, with growth now slowing sharply after two years of military-spending fuelled economic overheating. Kamaz's sales are a key indicator of economic activity in Russia, both in terms of the construction sector and in trade.
Time of India
19-07-2025
- Time of India
Russia: Four people died in truck accident in Kuzbass
Four people died in an accident with a truck and a car in Kuzbass. This was reported on July 19 in the press service of the regional Department of the Ministry of Internal Affairs. It is specified that the accident occurred on the 74th km of the Belovo--Konovalovo--Prokopyevsk highway. Tired of too many ads? go ad free now "It was previously established that the 44-year-old Kamaz driver drove into oncoming traffic, where he collided with a VAZ--2110 car," the agency said in a Telegram channel message. As a result of the accident, the 19-year-old driver of the car and three of his passengers died before the ambulance arrived. At the moment, all the circumstances of the incident are being established. The day before, two people were killed in an accident in the Orenburg region involving a passenger car, truck and fuel tanker. It is specified that the incident occurred on the 255th km of the M-5 Ural highway. The fires were eliminated by eight specialists and three pieces of equipment.
