• 25/05/2024 00:19

In Russia, prices for Chinese cars have risen sharply, occupying half the market

The average price of a new Chinese car in Russia reached 3.06 million rubles ($32 thousand). In the first three months of 2024, the increase in prices was 9.3% year-on-year, which exceeded the official inflation rate of 7.2%. The Moscow Times writes about this.

Prices for Chinese cars, which occupy half the market, have risen sharply in Russia

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The strongest is at 53 % – the price of GAC models increased, which now cost 4.3 million rubles. Next comes Geely: cars from this manufacturer have increased in price by 20.4% and on average they can be bought in the Russian Federation for 3.5 million rubles.

Cars of the Chery brand have risen in price by 13.3% and are now valued at 3.2 million rubles.

“Only Haval, which has production in the Tula region, did not show significant growth: cars of this brand still cost about 2.6 million rubles,” writes the publication.

Despite the rise in prices, the demand for new cars of Chinese brands in Russia in the third quarter increased by 158%.

The most popular brands among Russians are Chery (14.7%), Haval (14.5%) and Geely (14.2%). The top 5, covering both new and used cars, also included Omoda (7.9%) and Jetour (5%).

Last year, Chinese brands accounted for about half of new car sales in Russia. About a third of the market was occupied by AvtoVAZ, the remaining share was taken by other Russian brands and products of companies that left the country. At the same time, in December, the share of “Chinese” exceeded 60% and amounted to just over 119.45 thousand cars sold. Moreover, eight Chinese brands were in the top ten most popular.

In 2024, manufacturers from the Middle Kingdom intend to sell about 1.2 million cars in the Russian Federation.

minfin.com.ua

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