Chery has raised its suggested retail prices for the full model lineup starting April 11, according to the Russian office of the brand shared with socialbites.ca.
“The pricing scale and the amount of incentives within marketing programs were revised. The car’s cost now sits between 40,000 and 80,000 rubles, depending on the model,” a company representative told socialbites.ca.
Chery also noted that the bonuses available to buyers who finance their purchase or trade in an old vehicle have been reduced.
“Prices will be readjusted if the foreign exchange market shifts. We stay as flexible as possible and respond promptly to market changes,” the press service emphasized.
The day before, prices for six of the nine Chinese Changan models offered in Russia also rose, by 20,000 to 150,000 rubles each.
Socialbites.ca reached out to the Russian offices of several Chinese brands for comment on possible price hikes tied to exchange-rate movements. Geely declined to comment, and responses from other major players were unavailable at broadcast time. A source within the dealership community, however, suggested Geely’s prices could be adjusted as early as this week.
Since early March the ruble has weakened by nearly 10 percent against the U.S. dollar. The Central Bank of Russia set the official rate at 74.9 rubles per dollar on March 1 and 82.2 rubles per dollar on April 11, with April bringing an additional rise of about 5 rubles to the dollar.
The price impact of imports
Dmitry Rogov, founder of RogovMobil, a company focused on delivering cars from abroad, noted that sellers who import vehicles directly respond quickly to exchange-rate changes.
“Cars imported from abroad have increased in price in step with the ruble’s depreciation. Those already in Russia are selling at higher prices because new stock cannot be bought cheaper,” he stated.
The dollar’s 10 percent rise has coincided with roughly equivalent price increases. Since December, the ruble’s decline has reached about 20 percent, and car prices have moved in a similar direction. Rogov explained that the current ruble weakness pushes buyers toward the most popular foreign-made options.
“The exchange rate directly affects pricing. In the parallel-import segment, price changes happen instantly.”
Over the past two weeks, prices have climbed about 10 percent, according to Renat Tyukteev, head of retail sales at Avilon Automotive Group, who spoke with socialbites.ca. He added that further adjustments for Chinese cars remain possible if official importers do not hedge against risk, while other segments might hold steady for now.
Tyukteev also forecast that prices will keep rising and that a shortage of cars from all brands could persist through the first half of the year. “Official deliveries of Chinese cars show more gradual price increases,” he observed, noting modest two-to-three percent rises recently. Importers typically cushion sharp fluctuations in exchange rates with their own reserves.
Sales dynamics amid a weaker ruble
Andrey Olkhovsky, managing director of the Avtodom group, said the falling ruble has boosted demand, particularly for pricier models. Avtodom intends to maintain current ruble prices but acknowledged that the weaker currency will affect working capital and the pace of new purchases.
Olkhovsky explained that some growth in demand comes from customers investing ruble savings into cars, and the impact on balance sheets is manageable as long as liquidity remains stable. Rogov added that once the ruble stabilizes or recovers, interest in investing in car purchases tends to rise, especially among buyers looking to convert savings into tangible assets.
Industry perspectives on pricing
Industry observers suggest that brands supplying through parallel import or direct private channels can moderate price increases if official outlets choose to adjust pricing policies. For companies like Chery, Geely, and Haval the margin buffer is relatively large, allowing some flexibility in pricing decisions.
According to Oleg Moseev, founder of the Automarketologist project, these brands may cut prices or launch promotions if policy shifts could threaten sales targets. He argues that prices for cars obtained via parallel imports track the exchange rate closely, since players in that market tend to move quickly without long-term hedges.
Domestic brands and component costs
Igor Morzharetto, a partner at the Avtostat analytics firm, notes that ruble depreciation could push prices of domestically produced cars higher, given their reliance on imported components. He believes both domestic manufacturers and Chinese brands can moderate price changes somewhat, but AvtoVAZ is likely to keep prices in line with social expectations unless the rate recovery falters.
Morzharetto added that the market remains fragile and any sharp price increases risk deterring buyers. If the exchange rate fails to rebound, analysts expect price hikes across models such as Granta and Niva, with modest increases for others like Vesta.
Overall, the market response hinges on the pace of ruble stabilization, the level of import costs, and how manufacturers balance margins with consumer demand. The coming months will reveal how much pricing power brands retain as competition and currency dynamics unfold.