SWM, the car brand controlled by the Shineray group, halted financial transfers in Russia and paused marketing activities for almost eight months. The move reflected a recalibrated strategy, with executives signaling a tighter focus on core products and a cautious approach to the market. Industry observers summarize the situation as a test of how well the brand can compete in Russia’s price‑conscious, quality‑driven environment.
Industry insiders say the SWM plan faltered in the highly competitive Russian market, where buyers prioritize quality, especially when evaluating Chinese brands. Observers note the strategy struggled to gain traction and failed to translate into steady sales.
Dealer networks report that stock has sat in warehouses since 2023. Weak demand left many dealers unable to attract buyers, creating a backlog that hindered any quick rebound.
Great debt
Official court records show the Russian distributor, Eastern Wind, owed 88.6 million rubles to several parties, with a local advertising agency named in the case. The dispute underscored financial strains around the brand during the period of market retreat. — source: industry reports
SWM cars began to assemble in April 2023 at Avtotor’s Kaliningrad plant. Production started with three mid‑size crossovers: the SWM G01, the G01F, and the G05 Pro. As volumes allowed, the plan was to shift toward a full production cycle that covered sourcing, assembly and painting. — source: official industry data
In July 2024, the distributor East Wind Russian announced the forthcoming G03, but the model never reached the market. — source: distributor press briefing
Official data show SWM sales in Russia for 2024 reached 1,738 units, a 2% increase from 2023, according to Avtostat. The best seller was the front‑wheel drive G01F, with 1,456 units sold. — Avtostat
Evacuation
At the end of January, SWM sharply reduced prices. Discounts varied by model and could reach about a third off the sticker price. The G01’s new price range dropped to roughly 579,500 to 626,600 rubles, while the sticker price ranged from about 1.78 to 2.0 million rubles. The G01F saw reductions to 458,500–764,400 rubles, with list prices around 1.67–2.2 million rubles.
The G05 PRO discount spanned roughly 753,600 to 866,500 rubles.
As of January 31, 2025, 2023 model year SWM cars were offered around 1.58–1.72 million rubles, while 2024 models remained present in the market at similar levels.
According to the official SWM site, dealers held stock of 429 SWM vehicles across three models in Russia, with no 2023‑built cars on hand.
Two Moscow dealers confirmed that some G01F units in 2024 carried 2024 model designation; these were observed in summer and autumn 2024, but no fresh deliveries were seen in 2025.
Everyone denies
Avtotor officials stated that SWM production continues.
Currently SWM models are produced at the G05 factory in Kaliningrad, and the company plans to produce the G01 and G01F models as well. Restyled versions are scheduled throughout the year, with updated designs expected to be available in July 2025.
This year the Kaliningrad line is expected to welcome a new fourth model in the SWM lineup that has already been certified. All warranty obligations remain in effect.
Fault
In mid‑January, a top executive from a major Russian importer suggested SWM could exit the market, joining other brands such as Photon and Kaiyi as candidates for withdrawal.
The executive noted that weak demand forced dealers to lower prices to move inventories, which deepens losses for trading partners.
Industry analysts interviewed by a leading Russian trade publication view SWM’s position in Russia as precarious from the start of its presence there.
Analysts from the Russian Automobile Dealers Association warned that the lack of marketing and the absence of large models could push SWM out of the Russian market in 2025. The assessment highlights the brand’s struggle to gain traction.
Some industry voices argue that SWM’s approach in Russia has been imperfect from the outset. Attempts to engage local partners, including a long‑running collaboration with a major plant, did not translate into sustained sales, leaving dealers with mounting losses.
A final decision on SWM’s status remains possible within the year, with many predicting a decisive outcome sooner rather than later. Observers caution that the fate of SWM in Russia could hinge on decisions from the brand’s headquarters in China and on how aggressively the company positions the line to Russian customers.
The possibility that SWM could disappear from the Russian market remains on the table, while others say the situation could still pivot with new marketing and product strategy. Industry executives stress that the brand must perform and communicate its value clearly to Russian buyers.
Distributing vehicles requires providing repair and spare parts for 10 years, but the practical reality of this obligation remains uncertain, with various examples cited by dealers and analysts.