Sales of Chinese cars in Russia may reach 1 mln for the first time in a year

At the end of 2024, sales of Chinese brand cars in Russia for the first time in the history of the domestic car market may reach 1 million units. This was stated in a study by Gazprombank Auto Leasing on November 25. Thus, already for ten months in the country were sold 789.3 thousand passenger cars and light commercial vehicles brands from China.

"The ambitions of many brands from this country at the beginning of the year were much higher, but the general economic situation has made adjustments. As a result, only five brands fulfill the original sales plans: Haval, Jetour and GAC were the closest to the estimated figures, while Geely and Jaecoo over-insured themselves," the study notes, the text of which is quoted by TASS.

Experts recalled that companies from China planned to sell at least 1.2 million cars in Russia in 2024. Chery group alone was going to sell more than 400 thousand cars. In 2025, for example, Great Wall Motor concern is going to sell about 300 thousand new cars in Russia, and it will have to compete with Chery, Geely and Changan, which do not want to give up the current weighty market share, analysts emphasized.

In total, Chinese car companies sold 538.5 thousand cars in Russia in 2023 and took a share of 51.2% in the passenger car segment.

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Earlier in the day it was reported that in October 2024, Russians purchased 605.3 thousand passenger cars with mileage. This is 14.3% more than a month earlier and 23.8% more than the result of October last year. The most popular model among used cars in October was the sedan Lada 2107, and this is the ninth month in a row. In mid-autumn, Russian residents bought 14.3 thousand VAZ "sevens".