Latest news with #Autostat
The Star
4 days ago
- Automotive
- The Star
Chinese brands warmly received in Russian auto market in May
MOSCOW, June 4 (Xinhua) -- Chinese brands ranked among the top five best-selling passenger cars in Russia in May 2025, according to a report released on Wednesday by Russian analytical agency Autostat. Total passenger car sales in Russia fell to 91,218 in May, down 28.3 percent in comparison to the previous year, according to the agency. While the domestic automaker Lada held its top position with 25,552 cars sold, Chinese brands maintained their strong presence. The report shows that Haval remained the top-selling Chinese brand in Russia in May 2025, accounting for around 12 percent of all new passenger car sales with 10,623 units sold, followed by Chery with 9,780 units, Geely with 6,299 units and Chang'an with 5,639 cars. In total, 440,259 new passenger cars were sold in Russia over the first five months of this year, marking a 26 percent decline in comparison to the same period last year. According to a poll conducted by the government-owned research center VTSIOM last year, Russian consumers value Chinese cars for their affordability and availability, their technological features, attractive designs, and high quality as well as overall comfort.
Korea Herald
09-05-2025
- Automotive
- Korea Herald
Hyundai Motor gears up to reenter Russia
Chinese automakers hesistant to build production sites in Russia: report Hyundai Motor Group could seize an opportunity to return to the Russian market as Moscow looks to curb auto imports and Chinese automakers hesitate to set up local production sites, according to a report from the Korea Automotive Technology Institute released Friday. The Russian government has been increasing its recycle fee, essentially a tariff on auto imports, since October last year, and the KATECH report noted that these hiked levies would have the biggest impact on Chinese automakers. According to Russian automotive market analysis Autostat, China accounted for about 80 percent of Russia's total auto imports in the first half of last year. However, Chinese auto exports to Russia in the first two months of this year amounted to half of those in the same period last year. 'The Chinese auto industry must turn to local production (in Russia) to keep its competitiveness and cope with the changed policies, but they find themselves in a predicament due to high uncertainties regarding the Russian government's policies and market situations,' the report noted. Russians reluctant to buy China-made cars The KATECH report cited Autostat's survey of about 5,600 car owners in Russia in September last year, in which 27.6 percent of respondents said they would never purchase a vehicle from a Chinese brand, while 27.5 percent said they would only buy a Chinese car if there were no alternatives. The survey indicated that Russian customers were still reluctant to purchase vehicles from Chinese automakers despite the latter's larger presence in the market since the beginning of the Russia-Ukraine war in Feb. 2022. The report added that quality issues related to durability and after-sales services of China-made cars could also lead to a potential makeover of the Russian auto market in the mid- to long-term. It advised global automakers to consider options such as joint ventures or consignment as they decide whether to return to the Russian market. Trademark moves, buyback option signal Hyundai's return Hyundai Motor left the Russian market in December 2023 when the company sold its plant in St. Petersburg for a mere 140,000 won ($100) with a buyback option, which allows the company to get the plant back within two years of the initial sale. The Korean automaker appears to be gearing up for reentry into Russia, where Hyundai and Kia led the market share with a combined 354,000 vehicles sold in 2021. In recent months, the company has been filing for trademark registration with the local authorities. According to Russian outlets, Hyundai and Kia registered over 20 trademarks in the vehicles, parts and accessories categories, which were approved by Rospatent, the Russian Federal Service for Intellectual Property. 'Until (US President Donald Trump) and (Russian President Vladimir Putin) agree on a ceasefire, Hyundai Motor is getting ready to return to the Russian market,' said Kim Pil-su, an automotive engineering professor at Daelim University. 'With the Trump risks regarding (Hyundai's) US exports, (Hyundai) needs to figure out ways to diversify their business regions. (The company) already has experience in the Russian market and Russian customers have preference for Hyundai and Kia cars. It might cost them to buy back (the Russian plant) but they are going to proceed with the buyback option to revive their Russian business."
Yahoo
06-03-2025
- Automotive
- Yahoo
Russian monthly car sales fall in February for first time in almost two years
(Reuters) - Sales of new passenger cars in Russia plummeted by 24.9% year-on-year in February, marking the first decline in monthly sales since April 2023, Russian analytical agency Autostat said on Thursday. Before February, sales had been growing in year-on-year terms for 22 consecutive months, recovering after a market collapse in 2022 due to the war in Ukraine and the exit of Western carmakers such as Renault and Volkswagen. Growth started stalling towards the end of last year and Autostat expects the Russian car market to decline by between 10% and 20% in 2025. The Association of European Businesses forecasts a 15% drop due to high interest rates and sanctions. Chinese carmakers have grabbed more than half of Russia's car market in terms of sales from a less than 10% share before the war. Chinese brands dominate the top 10 in Russia, apart from the runaway market leader, Russia's largest carmaker Avtovaz, which sold 24,573 vehicles in February, down 14.3% year on year. Sign in to access your portfolio
