One of the largest suppliers of trucks to the Russian army, KAMAZ, has declared multimillion-dollar losses

The Russian automotive giant KamAZ, one of the largest suppliers of trucks and a company that works tirelessly for the needs of the Russian armed forces, has declared losses.

Here's What We Know

According to the published report for the third quarter of 2024, the company's net loss for the first 9 months is about $39 million, of which $10.5 million is a loss on sales. For comparison, in 2023, the company had a net profit of $160 million for the same period.

These figures indicate not only a significant drop in financial results but also a reduction in production volumes. Sales of trucks fell by 22%, and total production dropped to 18.46 thousand units. In 2023, KAMAZ was the leader of the Russian market, selling 28.2 thousand trucks, accounting for 20% of the total Russian market.

The report does not break down products into civilian and military segments, but this situation with the largest truck manufacturer in Russia is indicative. Any army needs a significant number of trucks, and, for example, a Russian motorised rifle regiment has about 500 vehicles for 2,100 people.

It is also worth noting that another major supplier of military vehicles to the Russian armed forces, the Ural Automobile Plant, has not published its accounts since 2022. Because of this, it is not yet known whether the decline in KAMAZ's performance is a result of the redistribution of orders or indicates a general decline in the industry.

Source: Defence Express