According to data released by the European Business Association recently, in 2021, the total sales of Chinese brand cars in Russia will reach 115,700 units, doubling from 2020, and their share in the Russian passenger car market will increase to nearly 7%. Chinese brand cars are increasingly favored by Russian consumers.
In the first half of 2021, the Russian auto market ushered in a rebound, but the overall sales trend gradually declined in the second half of last year as inventory depleted and the supply chain continued to tighten. In this context, Chinese brand cars with reliable quality, high cost performance and sufficient supply have become a bright spot in the Russian car sales market. In 2021, the sales of Haval, Chery and Geely in Russia will increase by 125%, 224% and 59% respectively year-on-year, and Haval has been among the top ten monthly sales in the Russian auto market for several consecutive months. Compared with some European and American auto brands, which have significantly increased the price of existing cars and extended the delivery time of orders, the advantages of Chinese auto brands in the protection of the industrial chain and supply chain have been fully demonstrated.
Chinese brand cars can be recognized by Russian consumers, in addition to the quality of the product itself, it also benefits from an accurate grasp of market demand. Russia has a long winter, the roads are vulnerable to ice and snow, and the road conditions are complex and diverse; the average population of Russian families is large, and the demand for pulling people and goods is large. To this end, Chinese car companies have launched a series of targeted models, which are well received.
At the same time, the process of localization of Chinese auto brands in Russia is continuing to accelerate. In April last year, Haval officially started construction of its automobile engine factory in Uzlovaya Industrial Park, Tula State. Lavrukhin, vice-president of the Tula State Government, said that the plant is of great significance to promoting the development of the auto industry in Tula State. The plant is expected to be completed by the end of 2022, with an annual output of about 80,000 engines. In addition to improving the construction of supporting industries for automobile production in Russia, the Haval Automobile Plant will also optimize the production and marketing model in 2022, and it is expected that the production and sales of automobiles will further increase.
Russian auto industry media and experts are optimistic about the development prospects of Chinese auto brands in Russia. In order to stimulate automobile consumption, the Russian government has formulated a budget of 20 billion rubles (about 1.7 billion yuan), which will be used to provide vehicle loan concessions and grant car purchase subsidies and other support measures. A recent article published by the Russian Satellite Network pointed out that in this context, with its own advantages in the entire industry chain, R&D and manufacturing potential, and continuously improving quality, Chinese brand cars are expected to win more market shares.
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Post time: Feb-16-2022