Sales of Chinese cars skyrocket in Russia amid Ukraine conflict

Almost 40 per cent of all new cars sold in Russia this year were made in China – after numerous auto-makers exited the country after its invasion of Ukraine.

Russia’s invasion of Ukraine has inadvertently led to sales of Chinese cars soaring in the country – but the overall market has weakened following the exit of more than half a dozen auto giants.

In March 2022, car-makers such as Ford, Mercedes-Benz, Toyota, Honda, BMW, Nissan and Renault suspended operations in Russia due to parts supply interruptions caused by the invasion of Ukraine.

Between April and November 2022, the aforementioned brands either sold their Russian factories or stopped exporting vehicles to the country in response to the invasion.

French brand Renault reportedly sold its 68 per cent stake in Russian car-maker AvtoVAZ (parent company of Lada) for just 1 ruble – equivalent to $AU0.02 at the time.

With the ‘Western’ brands all but out of the country, automotive analysis firm Autostat reports Chinese-made cars accounted for 38 per cent of Russia’s new-car sales in January 2023 – up from just 10 per cent in January 2022.

GWM and Haval are two of the most popular Chinese car-makers in Russia

Lada and its parent company GAZ have led to Russian-made cars leading the sales race – holding a 41 per cent market share in the opening month of 2023, compared to 20 per cent in the January prior.

In the same 12-month period, sales of cars imported from European countries fell from 27 to six per cent, while the number of South Korean-made vehicles sold dropped from 24 per cent to nine per cent.

While the market share gains can be seen as a major win for the Russian and Chinese automotive industries, overall sales of new cars in Russia have reduced significantly since the invasion of Ukraine.

According to new-car sales data from MarkLines, approximately 687,000 new vehicles were sold in Russia throughout 2022 – representing a 59 per cent drop on the 1.67 million sales in 2021.

Lada continues to dominate Russia’s new-car sales sharts

From the beginning of January until the end of February 2023, Russia’s new-car market has reduced by 62.5 per cent year-on-year, with MarkLines reporting 74,350 sales so far this year, compared to more than 198,000 in the first two months of 2022. 

Among the biggest winners are Chinese car-makers Haval (up 46 per cent), Geely (up 87 per cent), and Great Wall Motors/GWM (up 494 per cent).

In Australia, 26,111 Chinese-made cars were reported as sold between the start of 2023 and the end of February, surpassing South Korea (24,852 sales) to become the third-largest country of origin for cars sold in Australia – behind only Japan (48,343 sales) and Thailand (38,998 sales).

Last year, 122,845 cars manufactured in China were sold in Australia – a record which could be surpassed as year-to-date sales of the vehicles have increased by 107 per cent.

The post Sales of Chinese cars skyrocket in Russia amid Ukraine conflict appeared first on Drive.

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