A new way to buy Chinese cars will appear in Russia

These will be auctions, and the first auction may take place within the next two to three months. TASS writes about this with reference to the director of the Xiongfei trade and economic company Liu Hanyuan in the Chinese city of Suifenhe. It is not specified which cars are planned to be sold in this way.

“We are now preparing for the opening of the first auctions, and within two to three months we plan to launch the first auctions,” said Liu Hanyuan.

The demand for Chinese cars in Russia continues to grow. At the end of five months of 2024, Russians purchased 160 percent more new Chinese cars than during the same period in 2023. As a result, their share exceeded 57 percent. The number of Chinese cars imported by individuals through Primorye alone has increased sevenfold.

In Russia, “Chinese” cars have become much cheaper. An Italian company was fined for re-sticking nameplates on Chinese Chery cars. Canada, following the US and Europe, will introduce tough duties on Chinese cars.

The “Chinese” are beginning to flood the secondary market: at Avito Auto, the supply of such cars increased by 72 percent over the year. And in January-April, Russians bought 50 thousand used cars from Chinese brands – plus 52 percent year-on-year.

Sales of the Changan CS95 and Jaecoo J8 crossovers, as well as the Dongfeng Aeolus Shine Max sedan, are growing fastest in Russia. However, not everyone has heard of these brands: the level of recognition of Chinese brands outside the Big Three (Chery, Geely and Haval) remains low, experts say.

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