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"AUTOSTAT OMNIBUS-2020". Winter Car tires: preferences of car owners (fourth wave)

"AUTOSTAT OMNIBUS-2020". Winter Car tires: preferences of car owners (fourth wave)

Exit date 07.12.2020

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The fourth autumn wave of the project is aimed at identifying consumer preferences in the ...

07 december more info

Analytics

Russian dealers of Ford began sales of updated Mondeo

Ford Mondeo sedan has received a technological upgrade aimed at the safety improving of the car and improving of the intelligent driver assistance systems. People can order updated Ford Mondeo at all official Ford dealers in Russia.

05 julymore info

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How many cars are there in the federal districts of Russia?

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KAMAZ will use 70% of net profit for the development in 2013

KAMAZ can send RUB 3.5 billion among RUB 4.9 billion of net profit under RAS received in 2012 on its investment projects in 2013 in accordance with the materials of the company for the board of directors. The decision will be taken by shareholders in the meeting on June 28th.

The investment program of KAMAZ for 2013 is estimated at RUB 9 billion, the part of funds will be involved in the market, the plant’s spokesman, Oleg Afanasyev, informed the newspaper “Vedomosti”. According to him, the main investment project of KAMAZ in 2013 – is the modernization of one of the lines for the production of a new line of vehicles, including Daimler cabs. Total project cost is about $ 200 million. Pilot production will begin in September of 2013, the series - in 2014. It is planned to produce annually “several thousands” of KAMAZ vehicles with Daimler cabs, added Mr.Afanasyev. “It's not one model - one size, but it includes the production of vehicles with a conventional and high roof, with a sleeping place. This cabin covers, if you take the current lineup of KAMAZ, up to 70% of produced vehicles”, - said earlier the General Director of KAMAZ, Sergey Kogogin.

Among other investment of KAMAZ in 2013 we can remarked the additional investment in joint ventures with U.S. Cummins Inc for the production of engines and the German Zahnrad Fabrik - for the production of gearboxes, says Mr.Afanasyev (he did not reveal sums). Earlier Mr.Kogogin said that the company is also considering the possibility of joint venture creation with Daimler to produce axles (investments could be more than $ 200 million) that are purchased from the German company. The decision is still pending, Mr.Afanasyev said: “It is rather a prospect of 2014”.

Problems with funds at KAMAZ with its net debt to EBITDA ratio at the level 1 (in 2012, according to IFRS) won’t be, says the analyst of “VTB Capital”, Vladimir Bespalov. In addition, borrowings will be used for the investment program, so the company will receive from the federal budget subsidies on interest rate (90% of the refinancing rate of the Central Bank), he points out. In the first quarter of 2013, sales of KAMAZ decreased by 16.8% to 8146 vehicles and kits, including 70 medium trucks, according to the company data, because of the reduction of main segment of KAMAZ (14-40t) by 30% to 16,600 units in Russia. But KAMAZ cannot postpone its investment - the plant has the obsolete lineup and it needs to move to new products to remain competitive, said Mr.Bespalov. Mass migration to a new range of KAMAZ is planned to be in 2015-2016 years. The investment program for 2013-2020 years is estimated at RUB 62 billion.

29.05.13 AA "AUTOSTAT"
Source: www.autostat.ru