Page 118 - RusRPTFeb24

9.1.2 Automotive sector news
Chinese carmakers exported 5.26mn cars in 2023, out of which 0.8mn to the Russian market, pushing China to be the top exporter of passenger cars and overtaking Japan for the first time in history with 3.99mn vehicles sold, the Wall Street Journal reports citing the data by the China Passenger Car Association (CAPA).
In Russia, in the meantime, the inflow of Chinese cars in 2020 resulted in domestic vehicles accounting for less than 50% of the market. Chinese car exports to Russia quadrupled in 2023 year on year.
Car sales in Russia collapsed by 58.8% in 2022 to 687,370 units (chart) and only expected to recover to pre-war levels in 2027. Most recent estimates by the Ministry of Industry and Trade put the car sales in Russia at 1.05mn vehicles in 2023, up 62% from 2022, but one and a half times less than in pre-war 2021.
Lada Granta of AvtoVaz carmaker remained the only domestically assembled model on the Russian car market and the only budget offering, while also being the beneficiary of the preferential car loan programme.
Total sales of new passenger cars and light commercial vehicles in Russia in November 2023 amounted to 110,935 units. according to the AEB Automobile Manufacturers Committee.
After collapsing in 2022 and the first half of 2023, car sales in October and November have risen to put Russian annual car sales on track to recover most of their sanction-related losses to around 1.3mn sales a year in 2024.
This figure is confirmed by sales data of new cars from PPС1 - 117,994 units. The difference is due to the additional sales volume supplied through alternative channels.
Sales growth in January-November was 44% compared to the same period last year. According to PPС, taking into account alternative channels, the market has already reached almost a million cars sold. The market is showing positive dynamics, but the factors of increased disposal fee and the key rate restrict the sales.
Full year results and forecast for 2024 will be presented at the annual press conference of the AEB Automobile Manufacturers Committee in January.” *Detailed statistics by brand will be provided in the annual press release. Work is currently underway to change the data publication format.
Sales of new motor vehicles in Russia amounted to more than 1.3 million
118 RUSSIA Country Report February 2024 www.intellinews.com