According to statistics provided to sources, Chinese brands make up roughly a third of the Russian auto market. This industry, more than any other, demonstrates China’s rising economic relevance in the wake of the evacuation of Western corporations.
As a result of Western sanctions restricting Russia’s access to some materials, dwindling demand, high pricing, and other factors, new sales of passenger automobiles and light commercial vehicles are down about 61% year over year.
However, sales of Chinese-made passenger vehicles, such as Haval, Chery, and Geely, have soared. In November, they reached 16,138 units, nearly double the 8,235 units sold in January, and their market share increased to 31.3% from 9.6%, according to statistics from the Russian analytical agency Autostat.
The Association of European Businesses (AEB) estimates that sales of new passenger cars and light commercial vehicles in Russia were 46,403 in November and are expected to total approximately 600,000 this year. According to Russian automotive researcher Vladimir Bespalov, who spoke to Reuters, “the market is divided between the Russian and Chinese vehicle sectors since there is minimal manufacture of Western car brands and little importation.”
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