Russia's major military vehicles supplier KamAZ reports multi-million losses

Defense Express reports on this development.

Despite KamAZ’s role as one of the top suppliers of trucks for the Russian military, the company has reported substantial losses, the media and consulting company writes. 

According to the third-quarter reports for this year, KamAZ recorded a net loss of 3.831 billion rubles (around $39 million) in the first nine months of 2024. Of this, losses from sales alone amounted to 1.041 billion rubles ($10.5 million). In contrast, during the same period in 2023, KamAZ had posted a net profit of 15.819 billion rubles ($160 million).

This isn’t just a financial slump; it reflects a decline in production too. Truck sales dropped by 22%, and overall output decreased to 18,460 units. For perspective, in 2023, KamAZ was the leading truck seller in Russia, with 28,200 trucks sold — representing 20% of the entire Russian market.

Notably, the report doesn’t break down production into civilian and military segments. However, seeing Russia’s largest truck manufacturer in financial trouble is telling. After all, an army’s backbone is its trucks — in a typical Russian motorized rifle regiment, about 500 vehicles support around 2,100 personnel, the article notes.