Russian leader Vladimir Putin has pointed to noticeable progress in the quality of Chinese automobiles, noting that improvements are becoming evident over time. Reports from TASS highlight this trend as part of a broader shift in the automotive landscape. (Source: TASS)
Putin emphasized that the Chinese government is actively supporting automakers and expanding their footprint in the global market, including displacing European brands in some segments. He added that while price and quality are both on an upward trajectory, the evolving price-to-quality balance is giving car enthusiasts in Russia more options to meet their preferences. (Source: TASS)
The market has previously shown volatility, with sales of Chinese cars at Russian dealerships declining by about 60 percent since October following a notable rise in the Central Bank’s interest rate. This shift underscores how monetary policy can influence consumer decisions in the automotive sector. (Source: TASS)
Automotive analyst Ilya Titov has argued that taking out a loan at 20 percent annual interest is not a favorable deal for buyers. He suggests alternatives such as carpooling or taxi services as cost-effective options for those who rely on transportation without owning a vehicle. Titov also noted that the current market favors purchases by working professionals or individuals who can afford to buy a car without financing. (Source: TASS)
Earlier reports indicated that Chinese automobile manufacturers have set ambitious plans to sell around 1.2 million cars in Russia in 2024, reflecting a strategic push to expand exposure in the Russian market and capitalize on growing demand for affordable, practical vehicles. (Source: TASS)