Auto & Transportation

According to data provided by Sberbank Leasing Joint Stock Company, in the first five months of 2022, the company's sales of Chinese-branded vehicles increased by 4.9 times. The company's general manager Spirov said that since March 2022, there has been a general shortage of European-brand cars in the Russian auto market, and consumers' interest in Chinese cars has increased.

Markova, general manager of Gazprom Car Leasing Company, told the Russian media that there is a trend of increasing demand for used cars and new Chinese-made cars in the Russian auto market. Doubled, with an 80% increase in the value of transactions financing the purchase of new vehicles in China as a percentage of total business.

According to the data provided by Russian car dealers, Haval cars are the most popular in the Russian market. From March to May, the brand's share of Sberbank Leasing AG's car sales in China was about 60%.

Haval's share of Gazprom's year-to-date car sales in China is 34%, followed by Geely (21%), Chery (20%), Xingtu Exeed (14%) and JAC (4%).

Mikhailov, head of the business development department of the car rental company of the Russian Foreign Trade Bank, believes that there are several reasons for the increase in the sales of Chinese cars in the Russian market. First, the technology and quality of Chinese cars have improved significantly, and the interior and exterior designs are more attractive to Russian consumers. Secondly, Chinese automakers and importers work together to form an extensive marketing network in the Russian market, while ensuring auto repair services and spare parts supply. Third, Chinese automakers' careful selection of suitable passenger vehicle models and equipment contributes to sales growth. Additionally, most Chinese car brands offer additional discounts to corporate customers.