According to reports from Russian media, the customary press conference of the Russian automobile dealers association took place in Moscow in early January 2025. While traditionally focused on passenger vehicles, this year, for the first time, the event also addressed the industrial vehicle market. Data presented at the conference revealed that 126,181 trucks were registered in 2024, marking a 12.5% decline compared to the previous year. A particularly stark drop was recorded in November, with registrations plummeting by 31% year-on-year.
In his presentation, the president of the association explained that the sector's challenges stem from high interest rates, which have effectively deterred companies from purchasing new vehicles. Approximately 70% of Russian trucks are registered through loans or leasing contracts, which have now become either unattractive or outright unviable under the current rates. “This means that existing fleets will not be renewed, drivers will operate ageing trucks, and accidents involving such vehicles are statistically far more severe than those involving modern ones. It is essential that commercial vehicles are as new and safe as possible,” the speaker elaborated.
The market, however, is not only experiencing a decline in new registrations; sales of used trucks have also decreased. Nearly 300,000 vehicles were sold in 2024, half of which were Russian-made, representing a 6% drop compared to 2023. At the same time, Russian sources report that the market share of Chinese brands, both new and used, has increased.
Interestingly, despite declining sales, the network of truck dealerships has expanded significantly over the past year. In the last twelve months, the number of dealerships more than doubled, rising from 793 to 1,789. This growth has prompted the establishment of a dedicated committee to safeguard what is now considered an emerging and strategic sector.
Another noteworthy figure concerns the turnover of Kamaz, which, despite supplying military vehicles to the national army, has reported significant losses. According to multiple sources, both Russian and European, Kamaz posted a net loss of 3.831 billion roubles (approximately 37 million euros at the current exchange rate) during the first nine months of 2024. This contrasts sharply with the same period in 2023, when the company recorded a net profit of 15.819 billion roubles (around 153 million euros).
These results may, however, be influenced by the company’s investments. At the end of last year, Kamaz relocated part of its production to Senegal. In October, the company inaugurated a new plant in Senegal, where it manufactures military, civilian, and commercial vehicles. Discussions about the potential opening of a Russian facility in Africa date back to 2017. Over the past three years, Kamaz has also invested in training Senegalese drivers and mechanics.
Marco Martinelli
