Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling Back
First Automobile Works is a Chinese state-owned automobile manufacturer.
Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling BackRussian truck manufacturer KAMAZ has lost its leadership in the domestic market for the first time. In 2024, Chinese Sitrak took first place in terms of the total number of vehicles sold in Russia. In total, 102 thousand new heavy-duty trucks (HCV) were sold on the Russian market during the year, which is 18.8% less than a year earlier. Almost a fifth (19%) of the market came from Sitrak (19.4 thousand units), followed by KAMAZ (17.3 thousand, market share 16.91%) and three Chinese brands - Shacman (15.7 thousand), FAW (11.6 thousand) and Dongfeng (8.3 thousand).
Remains silent on whether they will continue operations. Revenue in Russia has grown. The Chinese manufacturer of limousines for Communist Party leaders Hongqi (pronounced “Huntsy” and translated as “red banner”), which supplies the most expensive cars to Russia (maximum price 19 million rubles), intends to increase sales from 3,300 cars in 2023 to 12,000 in 2024. Significantly increased revenue in 2023 vs 2022. Revenue decreased in 2024 vs 2023 by more than -20%.