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Ukraine War : Chinese Cars Now Bestsellers In Russia After The Exit Of Brands Like BMW, Mercedes
Ukraine War : Chinese cars now bestsellers in Russia after the exit of western brands like Mercedes-Benz, BMW.
Russians bought a record number of Chinese cars last year, with new car sales risen 7% in 2022, to 121,800 vehicles.
Exit of western brands from Russia have forced Russians to find alternatives in Chinese brands like Tank, Voyah and Hongqi.
Russia’s NAMI had already taken over VW, Renault and Nissan’s plants, following their exodus over Russia’s invasion of Ukraine.
Chinese car brands now account for nearly 40% of new car sales in Russia following the exit of western car brands like Mercedes and BMW from the country in response to its invasion of Ukraine.
According to a recent report by Autostat Analytic Agency, Russians bought a record number of Chinese cars last year, with Chinese new car sales in the country risen 7% in 2022, to 121,800 vehicles.
Sergey Tselikov, head of Autostat, said:
“Russian and Chinese brands are increasing their share in the Russian market. The market share of Russian brands increased from 20% to 41% in a year, while Chinese brands increased from 10% to 38%.
“The increased share of these two countries’ automotive brands reflects the decline in the market share of other countries’ brands. But the share of Korean brands dropped from 24% to 9%, European brands from 27% to 6%, and Japanese brands from 18% to 6%.”
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The exit of western brands from Russia over the past year have forced luxury car loving Russians to find alternatives from Chinese automotive brands like Tank, Voyah and Hongqi from FAW.
Where brands like Mercedes, Renault, Hyundai and BMW were once bestsellers, models from Chery and Great Wall Motor are now some of the bestsellers, according to Counterpoint Research.
Lada, Russia’s most popular carmaker before the war, also saw its market share grow from approximately 22% to 28% in 2022, according to S&P data.
Recall that Research Automobile and Motor Engine Institute (NAMI) had earlier taken over Volkswagen, Renault and Nissan’s plants, following their exodus over Russia’s invasion of Ukraine.
