Chinese car companies may rebrand themselves in Russia 14:37

Some major Chinese automakers are only officially allowed to withdraw from the Russian market. In this respect reports No Limits Telegram channel with links to senior representatives of the domestic automobile industry.

“The issue arose in April this year when Senator Mike Gallagher introduced the 2024 No Limits bill to the US Congress. “This document proposes for the first time to target specific structures of the Chinese business community,” the publication says.

According to this law, Joe Biden will have unlimited rights to impose sanctions on companies from China. It is especially applicable if Chinese car brands do not leave the Russian market.

According to sources, Chinese automakers are seriously concerned about this threat. In particular, they are considering the option of officially “leaving” Russia and “returning” outside of corporate branding.

Before reportedIn May 2024, the prices of China’s most popular second-hand car brands on the Russian market were observed to decrease by 5-9%. At the end of the month, the cost of five models from Geely, Chery and Haval fell (-5-9%). The biggest decrease, both in percentage and absolute terms, was seen in the Geely Monjaro off-road vehicle.

“The abundance of new Chinese cars offered with significant support from importers seems to have started to affect the appetite of Chinese car dealers in the secondary segment,” experts said.

Previously named The cost of the Voyah Free crossover with increased power reserve.

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Source: Gazeta

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