Chinese cars are selling at record levels in Russia.
Competition from European, Korean, and Japanese carmakers has vanished since Western sanctions were imposed on Russia.
Chinese automakers face increasing tariffs in other regions.
Chinese cars are selling at record levels in Russia, according to data from Russian analytics agency Autostat, reported by The Financial Times.
The country has turned to Chinese autos from brands such as Chery, Geely, and Great Wall Motor after sanctions forced Western brands to stop doing business with Moscow.
European, Korean, and Japanese carmakers had dominated the Russian market with a 69% share, per Autostat. However, since Western sanctions were imposed against Russia following its invasion of Ukraine in February 2022, Autostat's data showed a steep decline in sales.
The three regions now hold just 8.5% of the market, while Chinese carmakers such as have jumped from 9% to 57% over the same period.
Competition from European, Korean, and Japanese carmakers has vanished since Western sanctions were imposed on Russia.
Chinese automakers face increasing tariffs in other regions.
Chinese cars are selling at record levels in Russia, according to data from Russian analytics agency Autostat, reported by The Financial Times.
The country has turned to Chinese autos from brands such as Chery, Geely, and Great Wall Motor after sanctions forced Western brands to stop doing business with Moscow.
European, Korean, and Japanese carmakers had dominated the Russian market with a 69% share, per Autostat. However, since Western sanctions were imposed against Russia following its invasion of Ukraine in February 2022, Autostat's data showed a steep decline in sales.
The three regions now hold just 8.5% of the market, while Chinese carmakers such as have jumped from 9% to 57% over the same period.
10 months ago
