OREANDA-NEWS.   According to the published data, OJSC KAMAZ lost 1 billion 365 million rubles in the first quarter of 2014.
This is the result of a drop in vehicle sales due to contraction of the heavy truck market as well as a rise in selling expenses from 916 million rubles in the first quarter of 2013 to 2 billion 565 million rubles in 2014 due to the introduced scrappage fee.
The company’s management is developing a business efficiency program to reach a positive financial result at the end of the year. It also gathered a committee to improve the performance, namely to improve profitability and reduce costs, primarily non-productive ones.