6 Chinese Brands in Top 10 Russian Car Sales 2023
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6 Chinese Brands in Top 10 Russian Car Sales 2023
TechnologyAuthor: EqualOcean News Yesterday 01:46 PM (GMT+8)
Russian auto market analyst Autostat said that six Chinese car brands are in the top 10 of Russian sales in 2023. Chery topped the list of Chinese brands with sales of 118,000 units and a market share of 11.2 percent. In third place is Haval with 111,000 units sold and a 10.6% market share. Other brands that entered the top ten were Geely, Changan, Xingtu and Omengda.
Specifically, the six Chinese brands in the top ten, including Chery, Haval, Geely, Changan, Omengda and Xingtu, accounted for nearly half (47%) of the Russian passenger car market, with sales totaling about 498,000 units. Russia's homegrown Lada led the way with 324,400 units sold, increasing its market share from 27.9% to 30.6%. It was followed by Chinese brands, with Chery topping the list with 119,000 units sold annually and a market share of 11.2 percent. Great Wall Motor's Haval brand is in third place with sales of 111,700 units and a market share of 10.6%. Both Chinese brands saw more than 200% year-on-year growth in the Russian market in 2023.
Russia is the largest destination for Chinese auto exports. Statistics from the China Association of Automobile Manufacturers (CAAM) show that from January to November 2023, China exported 841,000 complete vehicles to Russia, while Mexico, which ranked second, exported 376,000 vehicles. China's exports to these two markets are mainly traditional fuel vehicles.
It is worth mentioning that the rise of Chinese cars in the Russian market is not a one-day success. As early as 2004, Chinese car companies began to pay attention to the Russian market, but it was not until 2013 that the sales of independent brands in Russia exceeded 100,000 units, the initial formation of influence. In the Russian market, the long-established and affordable local brands and early layout of the Russian market, Europe, the United States, Japan and South Korea, was the two major obstacles to the expansion of Chinese car companies. However, after the outbreak of the Russia-Ukraine conflict last year, many large car companies and suppliers have given up the Russian market, creating opportunities for China's auto and parts exports.
Autostat reports that the Russian auto market sold a total of 1,058,700 new cars in 2023, up 69 percent from 2022, helped by a gradually returning sales and production pace. However, it is still lower than the 1.51 million units sold in 2021. Earlier, several automakers such as Volkswagen, Nissan, Honda, Ford, BMW, Mercedes-Benz, General Motors, Volvo and Jaguar Land Rover have announced the suspension of car exports and sales to Russia.
Autostat experts predict that car sales in Russia will grow by 18% in 2024 to 1.25 million units. In a more optimistic scenario, sales could even grow by 32% to 1.4 million units. With the continued growth of Chinese automotive brands and their quick response to market dynamics, Chinese manufacturers are expected to occupy an even more important position in the Russian market.
