Sales of Chinese cars in Russian dealerships have fallen 60% since October after the Central Bank sharply increased the interest rate. In this respect reports auto.1prime.ru, citing Ilya Titov, director of the Orekhovo-AutoCenter Group of Companies.
“Sales of Chinese cars have fallen by an average of 60% since the Federal Reserve sharply increased interest rates. “Several factors act against the increase in demand, which has fallen sharply: in addition to a completely unprofitable credit product, this is also an increase in the recycling fee,” Titov said.
According to the expert, buying a car on credit with 20 percent annual interest is not profitable for the buyer, and it is cheaper to use car sharing or a taxi. In addition, Titov noted that now cars are bought only by those who need them for work or those who can afford to buy a car without a loan.
It happened before that knownIt is stated that Chinese automobile manufacturers plan to sell approximately 1.2 million new passenger cars in the Russian market in 2024.
Weighted average price of a new car in October 2023 decreased Up to 2.9 million rubles. According to statistics, the average price of a car in Russia in September was 3 million rubles, in August 3.1 million rubles and in July 2.9 million rubles.
Previously reportedRussians now have money to buy new cars.