Russian car sales jump in September as Chinese brands expand market share

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Car sales in Russia jumped by 148.6 per cent year-on-year in September, continuing to rebound from a huge slump in 2022, analytical agency Autostat said on Wednesday, with Chinese brands expanding their market share. Russia's auto industry was heavily reliant on investment, equipment and parts from overse

Workers walk past new Chinese cars unloaded from a ship at a commercial port in Vladivostok, Russia August 25, 2023. REUTERS/Tatiana Meel

Russia's auto industry was heavily reliant on investment, equipment and parts from overseas and hit hard by the fallout from Western sanctions over Russia's invasion of Ukraine, with sales plunging 59 per cent in 2022 and many foreign automakers leaving the country. Autostat said seven of the top 10 spots by market share after Lada - the flagship model of Russia's leading carmaker Avtovaz - were taken by Chinese automakers such as Haval, Chery and Geely, which have moved in to replace departing Western brands.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Russian court rejects Apple appeal against abuse of dominant market positionA Russian court rejected Apple's appeal against the alleged abuse of its dominant market position in terms of in-app payments, for which it was fined 1.2 billion roubles ($12.1 million) in January, the RIA news agency reported on Tuesday. Apple did not immediately respond to an emailed request for comment
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US takes action against Chinese companies, people tied to fentanylWASHINGTON: The United States on Tuesday (Oct 3) announced actions against Chinese companies and people as the Biden administration seeks to target the trafficking of the deadly drug fentanyl, unsealing indictments and imposing sanctions on dozens of targets. 'We are here today to deliver a message on beha
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »