Russian media said that Chinese auto brands have not yet established a foothold in the Russian market: during the ruble crisis, the demand for Chinese autos fell nearly twice as high as the average. This is the conclusion of the Russian automotive industry analysis agency Autostat.
According to the "Russian newspaper" website reported on July 7, the agency's data show that in the first five months of 2015, China's auto brand sales in Russia decreased by 64%, while the overall sales of the Russian new car market fell by 38%. Intriguingly, similar situations have occurred during the 2008-2009 financial crisis, when some Chinese manufacturers were forced to contract their operations in Russia.
The agency's research involves four of the most successful Chinese brands. Chery's sales led the decline, selling a total of 2,043 vehicles (down 74% year-on-year). The Great Wall followed closely with sales of 2036 units (down 70%). Geely and Lifan were slightly better, selling 3,119 units and 3,796 units respectively. However, sales still fell by 61% and 55% respectively.
Autostat leader Sergei Telikov explained that the people's finances were dragged down by the crisis. For Russian consumers, it is more affordable to switch to domestically produced brands: their prices have not risen sharply, and the cost of retaining Russian cars is lower than that of holding Chinese cars.
However, Chinese manufacturers have not “disarmed and surrenderedâ€, but have tried to restore Russian interest in Chinese cars. For example, Great Wall has entered its Russian market with Harvard, its own brand. Lifan announced the sale before July 31st: the maximum discount for individual models may reach 70,000 rubles (about 7616 yuan).
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