The price of GAC models has increased by 53%, and now costs 4.3 million rubles. Prices for Geely cars increased by 20.4%.
The average price of a new Chinese car in Russia reached 3.06 million rubles ($32,000). In the first three months of 2024, prices rose 9.3% year-on-year, exceeding the official inflation rate of 7.2%. Russian media reported this on Monday, April 22.
The price for GAC models has increased the most – by 53%, and now costs 4.3 million rubles. Next is Geely: cars from this manufacturer increased by 20.4% and on average they can be bought in the Russian Federation for 3.5 million rubles.
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Chery brand cars increased in price by 13.3% and now cost 3.2 million rubles.
Only Haval, with production in the Tula region, did not show significant growth: cars of this brand still cost about 2.6 million rubles.
In the first quarter, the number of new Chinese cars at Avito Auto increased by 266.6% year-on-year. In terms of increased offers, the leaders are Chery (+18.5%), Geely (+15.5%) and Haval (+15.1%).
Despite rising prices, demand for new cars from Chinese brands in Russia grew by 158% in the third quarter.
The most popular brands among Russians are Chery (14.7%), Haval (14.5%) and Geely (14.2%). The top 5, which covers both new and used cars, also includes Omoda (7.9%) and Jetour (5%).
Last year, Chinese brands accounted for about half of new car sales in Russia. In December, the “Chinese” share exceeded 60% and reached more than 119.45 thousand cars sold. Eight Chinese brands are in the top ten most popular.
By 2024, manufacturers from China aim to sell about 1.2 million cars in the Russian Federation.
As reported, sales of Chinese cars in Russia have reached their peak. The Russian Federation has become China’s largest export market for cars.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.