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- Time：2023/11/24 Posted：Hunchun Junyan Trade Co.,Ltd.
- New car sales of passenger cars and light commercial vehicles (LVCs) in Russia have fallen nearly 61% year-to-date in the wake of Russia's invasion of Ukraine, as the West has restricted upstream materials for the Russian automotive industry, as well as declining domestic demand and high prices.
At the same time, however, sales of Chinese brand cars in Russia have increased significantly. Sales of Chinese brand passenger cars, including Haval, Chery and Geely, surged in Russia, reaching 16,138 units in November, almost double the 8,235 units in January, and the market share in Russia soared from 9.6% to 31.3%, according to data from Russian analyst agency Autostat.
According to data released this week by the Association of European Enterprises (AEB), Russia sold 46,403 new passenger cars and LCVs in November, and sales are expected to reach around 600,000 units for the whole of this year.
Vladimir Bespalov, an analyst of the Russian automotive industry, said: "The production of Western brand cars in Russia is very small, and the export to Russia is also very small, so the market (of Russian automobiles) is divided between the Russian and Chinese automotive industries." ”
At present, Russian car brands mainly meet the demand for cheap market - that is, the market demand below 1.5 million rubles (about 166,700 yuan). Chinese automobiles, on the other hand, are seizing the market originally occupied by Western car brands, that is, the car market of more than 2.5 million rubles (about 277,800 yuan).
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