The information publication “Chinese Automobiles”, citing the analytical agency “Avtostat”, reports that sales of Chinese-made cars in Russia have reached their historical maximum in terms of the occupied share of the local market. According to vehicle registration statistics for July 2022 from Electronic Passport JSC, one in four new vehicles that were registered last month were Chinese. This is simply an incredible growth of the Chinese automotive industry in Russia, since back in January of this year, the share of Chinese brands in the country was below 10%.
In total, in July of this year, 8,642 new Chinese cars were entered into the registration database, which is 24.3% of the entire car market in Russia. For example, Korean manufacturers were able to capture only 21.2% of the Russian market, while other foreign manufacturers in the aggregate were able to conquer only 23.6%. If we break this share into each individual company, it turns out that the Chinese are sold much more often than the Germans – this in itself is nonsense. The leaders of the market, which is quite expected, are domestic vehicles – their share is 30.9%.
Analysts report that Chinese steel producers have been actively gaining market share since March of this year. If until March the share of Chinese cars in Russia did not even reach 10%, then in April it was 12.6%, in May – 16.9%, and in June – 21%. And, if you believe the latest news about the many Chinese brands that want to bring their latest innovations to Russia, the trend will continue. Perhaps, already in September or October, the share of the Chinese auto industry will be greater than the Russian one – but foreign brands will obviously lose their interest every month.
Judging by sales statistics, to date, four Chinese brands have captured the lion’s share of the market in Russia. For example, out of almost 9 thousand registered cars, 2577 vehicles belong to the Chinese giant Chery, another 2323 cars were sold by the equally well-known company Geely, plus 2155 new products were sold by Haval. In fourth place in sales is Exeed, a subsidiary of Chery, which sells exclusively premium cars. Other companies like JAC, Changan, FAW and Great Wall have not yet managed to overcome the mark of 200 units sold.
Source: Trash Box

Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.