It is understood that due to the impact of the situation in Russia and Ukraine, luxury brands including Mercedes-Benz, BMW, Porsche and other brands have stopped exporting new cars to Russia. In addition, luxury brand car companies have also suspended production in Russian factories. The latest data shows that in the first quarter of this year, sales of new cars in Russia fell by 28.4% year-on-year to only 277,000.
Manturov stressed that it was too early to make a pessimistic forecast for Russian car sales despite the decline in Russian car sales in the first quarter. He also mentioned that there is currently sufficient stock of spare parts for the domestic high-end car production line in Russia. Logistics and suppliers may or will be changed when necessary, and replacement of imported components will be made in a timely manner.
Chinese brand cars are expected to win more market share in the Russian market this year
It is worth noting that this latest statement from the Russian side will be a major benefit for Chinese auto brands in the Russian market. According to a previous report by People’s Daily Online, in 2021, the sales of Haval, Chery and Geely in Russia will increase by 125%, 224% and 59% respectively year-on-year, and the Haval brand has ranked among the top ten monthly sales in the Russian auto market for several consecutive months. There is reason to believe that with its own advantages in the whole industry chain, R&D and manufacturing potential and continuously improving quality, Chinese brand cars are expected to win more market shares in the Russian market this year.
