The Russian car market is being taken over by the Chinese car industry, Russian manufacturers cannot compete with the offer of the big Eastern neighbor.
The Chinese automobile industry is massively taking over the Russian market, Motor.ru writes, but local brands have significantly lower sales volumes. In two years, the Chinese have made a massive breakthrough – as the Telegram channel pro Trade In & Autobusiness reports, if in 2022 there were officially 11 car brands from China on the Russian market, then at the beginning of this year their number increased to approximately 60 – more than five times. Currently, cars from 53 Chinese and seven Russian companies are sold in Russia.
According to the data of the Russian Association of Automobile Dealers, 124,600 Chinese cars were sold in Russia in 2022, and 548,600 in 2023. Thus, the share of cars from China in the domestic market reached 56 percent. For comparison: Russian manufacturers managed to sell 434,600 vehicles in 2023.
The Chinese automaker is reportedly active in both the premium and budget segments, but a recent survey confirms that a third of the Russian population is ready to switch to Chinese cars.
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Tags: Chineseization Russian car market iAuto
