According to the consulting firm Inovev, Chinese car manufacturers have conquered the Russian car market. After the withdrawal of the European, American, Japanese and Korean automakers, they already had a market share of 42 percent in the first quarter of this year. "They are even increasing in terms of units in a much smaller market," Inovev shared.
According to industry experts, the Russian market collapsed from an average of 140,000 vehicles sold per month to around 40,000 vehicles per month after the start of the war in Ukraine. "The market slump is mainly due to the exodus of European, American, Japanese and then Korean car manufacturers."
Russian automakers have held up fairly well despite the economic sanctions. At 42 percent, the sales volume of the Chinese manufacturers is now just as high as that of the most popular Russian car brand Avtovaz: According to Inovev, they sold 64,432 cars and light commercial vehicles in the first quarter of this year, after 24,734 in the first quarter of 2022 and 18,981 in the first quarter of 2021.