Russia became top export destination for Chinese vehicles in Jan – May – industry association
DATA
Russia became top export destination for Chinese vehicles in Jan – May – industry association
DATA

Russia became top export destination for Chinese vehicles in Jan – May – industry association

 

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Russia became the top export destination for Chinese cars in the first five months of the year, with a shipment of 287,000 cars, followed by Mexico with 159,000 units and Belgium with 120,000 units, the China Association of Automobile Manufacturers (CAAM) said on Tuesday, citing data from the Chinese customs administration.

Of that, new energy vehicle exports reached 673,000 units during the period, surging 1.2 times from a year earlier, with Belgium, the UK and Thailand are the top three destinations for China’s NEVs.

“The retreat of Western auto brands from the Russian market has left a niche for Chinese players to fill in. Coupled with the enhanced competitiveness of Chinese cars, Russia has witnessed more Chinese autos being shipped there,” Cui Dongshu, secretary general of the China Passenger Car Association (CPCA).

Sales of Chinese cars in Russia are expected to reach 380,000 to 400,000 by the end of 2023, according to Otkritie Auto, the auto business unit of Russia’s Otkritie Bank. 

Chinese automakers have nearly 1,500 dealerships in Russia, accounting for 46% of Russia’s total, according to Otkritie Auto.The most popular Chinese auto brands in Russia are Chery’s Tiggo, Haval and Geely.