Kamaz, one of Russia’s leading truck manufacturers, has announced it is reducing its working week in response to the country’s economic downturn. The decision follows reports that over 30,000 imported trucks are now sitting unsold in warehouses, indicating a sharp decline in demand for the company’s products. The situation highlights the broader challenges facing Russia’s industrial sector amid falling export revenues and a shrinking domestic market.
Industry analysts have pointed to the growing surplus of trucks as a symptom of the economic crisis. Many of these vehicles were purchased by Russian buyers in the past year following government-backed subsidies, but with the market collapsing, companies are now left with large stockpiles of unsold inventory. Kamaz, which has historically relied on both domestic and international sales, is now facing pressure to adjust its production levels to match the declining demand.
The company’s move to cut back on production is expected to have a ripple effect across the Russian economy. With fewer trucks being manufactured, the demand for steel, components, and logistics services is likely to decrease, affecting a wide range of industries. Analysts warn that without a significant turnaround in market conditions, the situation could lead to further job losses and reduced investment in the sector.