Chinese Brands Take Over Russian Car Market Amid Western Withdrawal

TapTechNews July 8 news, as Western car manufacturers have withdrawn from Russia one after another due to the Russia-Ukraine conflict, Chinese brands have strongly filled the market gap and fully taken over the Russian car market.

 Chinese Brands Take Over Russian Car Market Amid Western Withdrawal_0

Chinese companies such as Great Wall Motors, Geely Automobile, and Chery Automobile are exporting cars to Russia and cooperating with the Russian government to restart the once booming car manufacturing industry in the country.

TapTechNews noted that according to data from the Association of European Businesses in Russia (AEB), thanks to this, Russian car sales have rebounded again, with a year-on-year increase of 75% so far this year, reaching more than 700,000 units. The AEB said that of the 130,715 new cars sold in Russia in June, 69,400 came from China.

With the continuous growth of Chinese car brands in Russia, it is expected that the market share of Chinese cars in Russia will further expand in the next few years.