Chinese Brands Strongly Penetrate Russian Car Market Amid Western Withdrawal

TapTechNews July 8th news, as Western carmakers have been withdrawing from Russia one after another due to the Russia-Ukraine conflict, Chinese brands have strongly filled the market gap and taken over the Russian car market comprehensively.

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 country's once booming car manufacturing industry.

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

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