Chinese carmakers win Russian market share


MOSCOW — Chinese brands account for almost a third of Russia’s car market, according to data shared by Reuters, citing the growing importance of China to the economy as Western companies leave the country. Shows more than any sector.

New sales of passenger cars and light commercial vehicles fell by almost 61 year-on-year as Western sanctions restricted access to some Russian materials, reduced demand and higher prices hit the sector further. % decreased.

However, sales of Chinese brand passenger cars such as Haval, Chery and Geely soared to 16,138 in November, nearly double the 8,235 in January, and their market share reached 31.3% from 9.6%, he said. data from the Russian analytical agency Autostat showed.

According to the Association of European Business (AEB), Russia’s sales of new passenger cars and LCVs were 46,403 in November, and are expected to reach around 600,000 for the whole year.

“The market is split between the Russian and Chinese auto industries as there is almost no production of Western car brands and almost no imports,” Russian auto analyst Vladimir Vesparov told Reuters.

Russian cars meet demand at prices as low as about 1.5 million rubles ($23,961), and China has also taken over the western niche with prices above 2.5 million rubles.

In one famous case, a Chinese car was disguised as a Russian car. Engine parts from China’s JAC, whose design, engineering and platform are used to revive Soviet-era Moskvitches, were in plain sight in last month’s rebranding.

Moskvich said it is working with a foreign partner, but did not name it. The JAC did not respond to requests for comment.

Most of the Western automakers, which have competed with domestic automakers for market share since they began building factories in Russia in the early 2000s, ceased operations after Russia sent tens of thousands of troops to Ukraine in February. stopped.

The Moskvitch is built at a plant inherited from Renault, but Nissan, Mercedes-Benz and Ford have pulled out of Russia.
Chinese producers, including Moskvitch, could account for about 35% of sales in Russia next year, according to Vesparov, if economic conditions do not change, with the market estimated to recover to 800,000 units. .

In monetary terms, this share could exceed 40% of what he expects to be a RUB 1.5 trillion market in 2023.

China’s sales volume in Russia pales in comparison to the domestic market, which was about 35 times larger than Russia’s in November.

According to the China Automobile Manufacturers Association, in the first 10 months of this year, Russia was the sixth largest export destination for China’s automotive products, including cars and parts, accounting for 3.9%, little changed from the same period last year. rice field.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *