KAMAZ has summed up the results of vehicle sales for two winter months of the current year.
According to the Marketing Department of OJSC KAMAZ, the Russian market of trucks with GVW of 14-40t amounted to 4.5 thousand units for these two months, which is by 48% lower than in January-February last year. Besides, KAMAZ sold 2.3 thousand vehicles for this period (-41% to last year’s figure). Thus, the company's share in the Russian market has reached 52% by the end of the two months’ period.
The market slowdown is explained by several factors. First of all, this is a general decline in the economy. There was a reduction of investment in fixed assets, a fall in the construction industry’s output, a low price-per-barrel for Urals crude oil, which led to a slowdown in sales of vehicles to oil and gas industry workers. Among the factor are also the growth of inflation and devaluation of the ruble against the dollar and the euro.
In addition, the Central Bank of the Russian Federation significantly raised its key interest rate at the end of last year, and the Russian companies' access to international financial resources is still limited, and therefore the availability of credit and leasing declined sharply. The drop in sales was also affected by the termination of old and absence of new large-scale infrastructure projects under which, as a rule, lots of vehicles are purchased.
According to KAMAZ’s marketing experts, the Russian market of trucks with GVW of 14-40t will total 51 thousand units in 2015. The company plans to sell 26 thousand vehicles, consequently the market share of the Kama Automobile Plant can reach 51%. KAMAZ plans to maintain its leading position bringing a new model range to market and ousting foreign competitors, promoting the use of vehicles running on gas fuel, and optimizing costs owing to import substitution.
The market condition will depend on the macroeconomic situation; it is expected to be gradually stabilized. Thus, the Central Bank has already announced the key rate reduction, which will open up more credit and leasing opportunities. The public reimbursement of a part of interest rates on mortgage loans will restore the housing market. In addition, the Russian government developed and adopted an anti-crisis plan to implement largest investment projects and allocate funds for recapitalization of banks and systemically important credit institutions, as well as to support economic sectors, including agriculture, housing construction, housing and communal services, industries and the fuel-energy complex (it is planned to purchase NGVs and gas-powered buses for housing and communal services; to realize a vehicle scrappage program; to purchase agricultural machinery; to offer preferential leasing from Rosagroleasing). Besides, purchases of NGVs stimulated and subsidized by the government will help spur sales in the Russian market.