Sergei Kogonin: “More than Ukraine, I’m worried about the Russian market”

Sergei Kogonin: “More than Ukraine, I’m worried about the Russian market” – The annual meeting of KamAZ shareholders has taken place in Naberezhniye Chelny on 27.06.2014. During his speech at the event, the General Director of KamAZ: Sergei Kogonin has stated that 2013 has been a tough year for his company. However, Kogonin has drawn attention to the fact that despite the 28% shrinkage in the truck market, KamAZ sales have fallen only by 4% and the market share of the company has risen to 45% from 33%. KamAZ has sold 38,100 vehicles in 2013. 5700 of these vehicles have been exported. While the turnover of the company has reached 107.2 billion rubles, the net profit of the company has been declared as 2.2 billion rubles.

As stated by Kogonin, KamAZ has invested 4.7 billion rubles in areas such as; new cabins, engines, the compatibility with Euro-5 environmental standards and the KamAZ-5490 tow trucks, in 2013. With these investments, KamAZ is aiming to increase its share in tow trucks market to 25% from the current 3%.

In addition to all these, Kogonin has stated that the partnership with Daimler will be improved even further. The General Director has made the following statement: “Within a few years we will be obliged to manufacture and sell modern trucks only. Therefore, we have to re-organise our production and engineering processes. Our production needs to be more flexible, more compact and more competitive.”

Kogonin has added that the company has set an annual production target of 80,000 vehicles. In addition, the company is aiming to increase the labour productivity by two-and-a-half-fold and triple the energy efficiency.

Upon a question about Ukraine during the press conference held at the end of the event, Kogonin has expressed his worries about the Russian market, rather than the situation in Ukraine.