21.12.2022, 10:02
The Russian car market was predicted to be filled with Chinese brands
Source: OREANDA-NEWS
OREANDA-NEWS Next year, the Russian car market may be more than half filled with Chinese cars, analysts of the VTB Leasing service predicted.
"In our portfolio, the share of transactions with automotive products from China in the passenger segment has increased fivefold, to 10 percent. In general, this indicator has already reached 30 percent in the market, and in 2023, according to our estimates, it will cross the 50 percent mark," said Artem Kiselyov, director of sales of auto leasing products of the company.
The expansion of the presence of Chinese car brands in the Russian market took place against the background of the departure of a number of Western automakers from Russia — by autumn, local dealers had almost completely sold out brands from the USA, Europe and Japan. In total, by the end of 2022, the number of brands in the Russian car market has decreased from 60 to 14. Among them are three domestic brands (Lada, GAZ, UAZ), and the rest is the Chinese automotive industry (Chery, Geely, Haval, Jac, Faw, Dongfeng, Changan, Exeed, Gac, Foton, Omoda).
"In our portfolio, the share of transactions with automotive products from China in the passenger segment has increased fivefold, to 10 percent. In general, this indicator has already reached 30 percent in the market, and in 2023, according to our estimates, it will cross the 50 percent mark," said Artem Kiselyov, director of sales of auto leasing products of the company.
The expansion of the presence of Chinese car brands in the Russian market took place against the background of the departure of a number of Western automakers from Russia — by autumn, local dealers had almost completely sold out brands from the USA, Europe and Japan. In total, by the end of 2022, the number of brands in the Russian car market has decreased from 60 to 14. Among them are three domestic brands (Lada, GAZ, UAZ), and the rest is the Chinese automotive industry (Chery, Geely, Haval, Jac, Faw, Dongfeng, Changan, Exeed, Gac, Foton, Omoda).
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