Kamaz sees 2020 sales topping plan by 10%, exports falling 30%

MOSCOW, Dec 21 (PRIME) -- Russian truck maker Kamaz will sell around 32,000 trucks in Russia in 2020, up 10% from the planned figure, and exports of the company will fall 30% from the plan to 4,600–4,700 cars, CEO Sergei Kogogin told reporters on Monday.

“We can see that our sales will amount to 32,000 units in Russia and to 4,600–4,700 exported units. It means that we have topped the domestic sales plan, and as to exports, we had a good start this year but then encountered problems with contracts implementation as countries began to close,” he said.

The company’s revenue growth plans for 2020 are retained at 204–208 billion rubles, as calculated under International Financial Reporting Standards (IFRS), Kogogin said.

Investment have amounted to 9.3 billion rubles since January 1, and the 2021 investment program is expected at 16.7 billion rubles, he added.

Kogogin said that Kazakhstan, Turkmenistan, Uzbekistan and Vietnam remain key export markets of Kamaz.

He also said that the company plans expansion in the premium segment to over 5,000 cars of the K5 series in the next few years.

Kamaz upgraded its forecast for Russia’s overall heavy trucks sales in 2020 to 60,000 units from the previously projected 56,000–58,000 units.

Kogogin said that Kamaz plans to resume talks on establishment of an alliance with Russian carmaker Sollers of businessman Vadim Shvetsov after the coronavirus pandemic finishes.

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