In November, pricing on many Chinese-made vehicles in Russia saw noticeable reductions. The trend is clearest in Chery’s lineup: for instance the Tiggo 8 Pro hybrid crossover not only dropped in price but also appeared with a 350 thousand ruble decrease, which translates to about 6.7 percent.
During the previous autumn, Chery also cut prices on the Tiggo 7 Pro Max SUV, making two trim levels more affordable by 110 thousand rubles.
One version of the Tiggo 8 Pro Max was reduced by as much as 300 thousand rubles.
Across all trims, the Arrizo 8 sedan price fell by 150 thousand rubles, while the Tiggo 4 Pro SUV saw reductions ranging from 80 to 130 thousand rubles depending on the configuration.
The shift was not limited to Chery. The Jolion crossover from rival Chinese brand Haval, which produces in the Tula region, also dropped by 100 thousand rubles this month.
Changan followed with notable price changes: 14 of 16 models on the market saw cuts ranging from 30 to 100 thousand rubles, according to the Chinese Cars portal. The Quto site highlighted that JAC delivered the strongest recovery, with the JS6 SUV price sliding by 499 thousand rubles.
Geely likewise trimmed prices: Atlas Pro and Tugella fell by about 100 thousand rubles, and the Omoda S5 sedan dropped by 70–80 thousand rubles in November.
Competition heats up
Andrei Olkhovsky, general director of the Avtodom dealer group, commented to socialbites ca that competition among Chinese manufacturers in the Russian market could intensify next year, potentially pushing prices lower.
He noted that the share of Chinese cars in Russian imports rose from 10 percent in 2021 to 92 percent in 2023. If the trend of rising Chinese car imports continues, an oversupply and heightened competition among brands could emerge in 2024.
Pricing dynamics in 2023 took shape in 2022 when the yuan climbed to about 18 rubles per unit, though today the yuan trades around 12.4 rubles. Despite the improvement in exchange rates, manufacturers have not uniformly passed these gains to customers.
AutoSpetsCenter foresees that the November discount wave may not persist in the near term.
Since early 2023, car costs on the Russian market have risen by roughly 18 percent, with autumn spikes dampening demand slightly. While ruble strength has prompted some price reductions, analysts warn this may be temporary.
Avilon group representatives share a similar view; Ilya Petrov, retail sales manager, observed that prices from official Chinese distributors show more moderate variance than those from dealer parallel imports.
Chinese automakers are reluctant to discuss the situation in detail. Haweil Motor Rus was the only company to respond to inquiries, noting that market development will depend on many factors, including competitive pressure.
Why more Chinese cars are appearing on the market
Experts interviewed by socialbites ca offered diverse views on the causes of falling prices for Chinese cars. Igor Morzharetto of Autostat suggested that rivalry within the 2–2.5 million ruble segment is a key factor. Only Ladas remain under one million rubles, while basic Chinese models are often priced under 1.5 million rubles. Currently, roughly 200 Chinese models are officially offered in Russia.
Morzharetto observed that all Chinese manufacturers carried meaningful price risks in the Russian market, amplifying the effect of sanctions and an unstable ruble. Distributors and dealers faced narrowed margins, yet competition and a relatively stable ruble created room for discounts on vehicles delivered in the previous month.
He also pointed out that companies relying on parallel imports were weathering a tougher period, while some dealers noted a broader market slowdown.
Most Chinese brands now offer discounts and financing programs, with some promotions reaching up to one million rubles on cars priced around five to six million rubles. The consensus among market insiders is that buying now, or before mid-December, may be prudent as credit costs are expected to rise and discounts could persist into late January.
Maxim Kadakov, editor-in-chief of Za Rulem, argued that the price declines reflect earlier overpricing. If conditions stabilize, new-car prices could revert to today’s levels by early 2024 in an optimistic scenario.
He added that price reductions came after a peak in autumn, when prices were pushed up substantially. For example, a three-point-Three million ruble vehicle was temporarily increased by about 200 thousand rubles, then discounted again by a similar amount.
In Kadakov’s view, dealers prefer to realize a smaller profit now rather than hold out for a larger one later amid tight working capital.
Pause in purchases
Independent automotive consultant Sergei Burgazliev pointed out that price cuts on certain models reflect the need to move illiquid stock. If buyers can wait, the period January–February often brings a market slowdown and more favorable deals.
Anton Shaparin, vice president of the National Automobile Association, noted that Chinese automakers have had to adjust to weaker demand as consumer purchasing power declines.
Their strategy appears to involve retreating from the high-price segment and then competing more directly with mass-market players like AvtoVAZ once the market weakens, with a further downturn anticipated in early 2024 due to limited consumer credit and exchange rate risk.