Exports of passenger cars from China to Russia increased sevenfold in 2023. This is stated in report China General Customs Administration (GTU).
Exports of passenger cars and other motor vehicles designed to transport people increased from $1.6 billion in 2022 to $11.5 billion in 2023, according to the agency.
China supplied more than 800 thousand vehicles to Russia during the 12 months of 2023.
Before that, the Ministry of Industry and Trade announced that the Russian automobile market would begin to recover and the sales level could reach 1.3 million units in 2024. The department stated that the sales volume in 2026 will correspond to the average annual sales volume in 2015-2021. The market will gradually grow by 1% per year from 2027. Thus, by 2030 the Russian automobile market will reach the level of 1.8 million cars per year, and by 2035 the sales volume will reach 1.9 million cars per year.
Previously reportedRussians now have money to buy new cars.
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Source: Gazeta
Anika Rood is an author at “Social Bites”. She is an automobile enthusiast who writes about the latest developments and news in the automobile industry. With a deep understanding of the latest technologies and a passion for writing, Anika provides insightful and engaging articles that keep her readers informed and up-to-date on the latest happenings in the world of automobiles.