HomeEconomyIn Russia they announced...

In Russia they announced “terrible trends” due to cars from China

Photo: Getty Images

In the first quarter of 2024, AvtoVAZ’s revenue will account for less than 10% of the total new car market in Russia.

Chinese automakers are offering big discounts to Russian buyers and “squeezing” the largest Russian manufacturer AvtoVAZ in the low-margin market segment. The head of the company, Maxim Sokolov, said this, reported Interfax on Tuesday, April 16.

function news4654500() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4654500&lang=1&IsAjax=true’, function (data) { $(‘#nk4654500’).html(data); });


“The Chinese work in the most marginal segment of the market, that is, they collect more money with fewer cars. because it needs to be sold cheaper – and thus we are squeezed there, “- complain of the head of AvtoVAZ.

According to Sokolov, previously the Vesta model “was a good high-margin product, and technologically advanced,” but now Chinese competitors “start to surpass Vesta at this 900 thousand ruble discount and, entering the segment its 1.5 to 2 million rubles, is starting to squeeze it from there.”

As a result, in 2023 AvtoVAZ’s revenue will only reach about 10.8% of the total new car market in Russia, and in the first quarter of this year this figure will drop below 10%.

“This trend is scary… And although in quantitative terms we have about 30%, the share of money continues to decrease,” said Sokolov.

At the same time, the sales volumes of “individual Chinese manufacturers” in financial terms have already exceeded the figures of AvtoVAZ, the director of the company admitted.

He recalled that the net income of the Russian distributor of the Chinese automaker Chery (JSC Cherry Cars Rus) last year amounted to almost 35 billion rubles.

“At the same time, Chery does not produce (in Russia, – ed.) there are no local products at all,” said Sokolov.

It was previously reported that sales of Chinese cars in Russia have reached their peak. The aggressor country has become China’s largest export market for automobiles. Even connoisseurs of premium brands in Russia are forced to switch to Chinese cars.

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular


Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Real name or stage name? BTS opens up about their preferences

In one of their interviews, the members of BTS revealed the way they prefer to be called by their fans. Find it out!In the artistic world, many celebrities end up deciding to adopt other names to be recognized in their careers, leaving the way they were...

Creative director who was with BTS’s V reveals what it was like working with Min Hee Jin

STUDIO MAS FRUTA co-founder, who worked with BTS's V, shared her opinion on ADOR CEO Min Hee Jin; look!Last Wednesday, the 22nd, the creative director of her latest solo album Vfrom BTS, and co-founder of STUDIO MAS FRUTA, shared through social media her opinion about working...

5 hilarious moments from k-pop idols

Remember some hilarious moments that have happened to different K-pop idolsIn our daily lives, it is extremely common that, unintentionally, things end up getting a little out of control, or that unexpected situations end up arising that create hilarious moments that are remembered by you and your...

The satellite took a photo of the sinking site of the Russian Cyclone

The Russian missile ship "Cyclone" was destroyed by the Ukrainian Defense Forces. .in_text_content_22 { width: 300px; height: 600px; } @media(min-width: 600px) { .in_text_content_22 { width: 580px; height: 400px; } } . Satellite images from the impact site appeared online. The photographs show the site of...

After winning “The Masked Singer”, Vanessa Hudgens makes reference to High School Musical

Vanessa Hudgens, actress who played the protagonist in High School Musical, made reference to the film after winning the show The Masked SingerVanessa Hudgensan actress who was the big winner of the show The Masked Singer in the United States, made a reference to High School Musical...

The man who shot Fico spoke about the motive and remembered Ukraine.

Juraj Cintula, who attacked the Prime Minister of Slovakia Robert Fico, had been preparing the assassination attempt for two days. .in_text_content_22 { width: 300px; height: 600px; } @media(min-width: 600px) { .in_text_content_22 { width: 580px; height: 400px; } } . The pensioner did not agree with the...