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Kamaz upgrades its 2017 sales outlook

June 01, 13:41 UTC+3

The car producerbelieves sales may be two or three thousands higher than anticipated

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© Egor Aleev/TASS

ST. PETERSBURG, June 1. /TASS/. Russia’s largest truck producer Kamaz plans to sell up to 32-33,000 cars this year, its Chief Executive Officer Sergei Kogogin told TASS, adding that previously the company’s business plan implied sales of around 29,000 cars on the domestic market.

"We’ve started revising our projections. We assume sales may be two or three thousands higher [than planned]," he said.

Meanwhile, the company upholds plans to export around 6,000 cars this year. "We can sell 38-39 thousand cars taking into account exports," he said.

Sales of Kamaz increased by 29% in the first quarter of 2017 to 6,744 cars. The company’s share on the market of cars over 14 tonnes reached 56.7%, according to the company.

Kamaz occupies 16th place among the world's leading manufacturers of heavy trucks and 8th place in the world in terms of production of diesel engines. The group's technological chain includes 11 large automobile production plants and auxiliary cycle units.

Rostec is the largest shareholder of Kamaz (controls 49.9%). Among other shareholders - Cyprus-registered Avtoinvest limited (20.81%) and Cypriot Decodelement Services Limited (2.73%). Other shareholders include German auto concern Daimler (15%), American KAMAZ International Management (4.25%) and Finance and Leasing Company Kamaz.

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