Espreso Global Sanctions against Russia Russia’s largest truck maker KamAZ sees profits plunge to record low due to sanctions

Russia’s largest truck maker KamAZ sees profits plunge to record low due to sanctions

2 April, 2025 Wednesday

17:08

Sanctions against Russia

Over the past year, the profit of Russia’s largest truck manufacturer, KamAZ, plummeted 28-fold, primarily due to sanctions imposed on Russia

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This was reported by the Center for Countering Disinformation.

The company's net profit for the past year was 731 million rubles (approximately $8.6 million), a significant drop from 20.4 billion rubles (over $240 million) in 2023.

KamAZ acknowledges that the sharp decline in profits is due to rising credit costs and increased taxes. The company also faces tough competition from Chinese automakers offering much lower prices.

The Center emphasized that the automotive industry in Russia is now in a survival mode due to sanctions. "The Kremlin continues to spend vast resources on the war, leaving even strategically important enterprises like KamAZ without support," added the Center for Countering Disinformation.