According to the results of 10 months of this year, Chery managed to earn 268 billion rubles, according to a study by the Automarketer agency. Thus, the Chinese brand has become the market leader in terms of finance, leaving behind the Russian AvtoVAZ, whose revenue for January-October amounted to 231.7 billion rubles. Moreover, the difference in results between Chery and AvtoVAZ is greater than between AvtoVAZ and Geely, which follows it.
Chery occupied 12.6 percent of the Russian market in terms of revenue in January-October, and AvtoVAZ – 10.6 percent. Third place went to the Chinese Geely, which earned 218.6 billion rubles in Russia, which corresponds to 10 percent of the market. This is followed by two more Chinese brands – Haval and Exeed, whose revenue for 10 months of 2023 amounted to 200.9 and 142.7 billion rubles, respectively.
In general, the market volume of new passenger cars during this period amounted to 2.2 trillion rubles. More than half (55.6 percent) was earned by the Chinese, another 14.2 percent by Europeans. Russian automakers own only 12.5 percent of the proceeds.
Meanwhile, a drop in Chery sales was recorded in November. Cars of this brand are mainly purchased on credit, and therefore the increase in the Central Bank rate affected demand, experts explained.
In general, the Russian car market has also declined. In November, sales fell to 133 thousand cars. This is two percent less than in October, but 60 percent more than in November 2022, when the market had not yet recovered from the turmoil due to sanctions. The Lada Granta is still in the lead, followed by the Haval Jolion crossover, and the Lada Niva takes third place.
What awaits us: Chinese new products
