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Chinese automobile manufacturers conducting main growth in Russia report

Companies from the Asian superpower are profiting from a Western exodus

Chinese automobile dealerships have been opening in Russia at a report tempo, RIA Novosti reported this week, citing evaluation by Otkrytiye Auto. Since the start of the 12 months, the quantity has elevated by virtually 300 to 936, in accordance with the report.

“Russian auto retailers have never seen such a rapid growth in the number of car dealers from Greater China, which happened this fall,” Otkrytiye Auto specialists mentioned, noting that 185 showrooms had opened from July to November.

The main model among the many new dealerships was Exeed with 48. A complete of 47 new franchises of the brand new Omoda model additionally opened, whereas Chery is now the main Chinese model with 167 dealerships in Russia.

Geely additionally elevated its variety of automobile dealerships by a 3rd in simply 10 months, with 44 new openings, bringing the corporate’s complete variety of dealerships in Russia to 133.

The variety of FAW and Changan dealerships has additionally elevated.

“Among other China brands that did not make it into the top 10, we should mention, are new brands Voyah and Skywell, which have already opened three new stores this fall, as well as GAC, with one new sales outlet,” the report mentioned.

The reputation of Chinese vehicles in Russia has been rising amid the exodus of European, American, and Japanese manufacturers. Many automakers discovered it tough to proceed operations within the nation because of logistical disruptions ensuing from Western sanctions, after deliveries of vehicles and spare elements to Russia had been stopped.

For extra tales on financial system & finance go to RT’s enterprise part

(RT.com)

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