St Petersburg [Russia], January 15: Chinese automakers sold a record total of 553,000 cars in Russia in 2023, accounting for almost half of Russia's auto market, says industry experts.
The share of Chinese cars in the Russian market surged from 17 percent to 49 percent, according to a report released on Friday by Otkritie Auto, the auto business unit of Russia's Otkritie Bank.
Last year, 30 Chinese car brands were officially imported into Russia by distributors, while 15 to 17 brands entered the Russian market through parallel imports, a trade channel through which branded goods are imported into a market and sold there without the trademark owner's consent in that market.
Among the most popular Chinese car brands are Haval, Chery, and Geely.
Experts from Otkritie Auto believe that sales of Chinese cars in Russia will further increase this year, with Changan, Haval, and Chery projected to sell nearly 600,000 cars in total.
Source: Xinhua
