Prices for Chinese cars in Russia may decrease by 10-15% in 2024
Experts predict that next year the cost of new Chinese cars on the Russian market may fall by 10-15%, reports autonews.ru. Therefore, they are advised to postpone the purchase of such equipment.
The price reduction is due to the desire of Chinese brands to increase sales in Russia. In 2024, they expect to sell 1.2 million cars here, that is, twice as much as in 2023. However, it is unlikely that it will be possible to achieve such indicators without a significant reduction in cost, since the demand for cars is now falling. In particular, due to expensive loans, many refuse to buy a new vehicle. In addition, the production of Russian brands that compete with the Chinese is being restored. By September, the latter’s market share had dropped to 53% after an August peak of 56%.
To turn the situation around, Chinese brands will have to resort to unprecedented dumping and reduce prices by at least 10-15%. This will allow us to return to the previous sales dynamics and win new buyers among Russians. Therefore, it makes sense for the latter to wait for lucrative offers from Chinese automakers to appear before choosing a new car.
At the same time, it is worth recalling that the geography of production of cars of the Russian company UAZ has increased. Now cars of this brand will be assembled in the Chechen Republic.
