Russian Vehicle Market fast recover in 2023. Sustained by Chinese OEMs replacing the Western companies, the light vehicles market grew at 854,231 sales (+24.4%). Chinese hold 8 places in top 10.
Market Trend and Outlook
The Vehicle Market in 2023 registered a total of 854,231 sales being up by 24.4%. The month of December continues a 9 month positive streak, reporting 85,761 new units sold (+21.4%).
It seemed that western companies exiting from the country, local manufacturers not being able to keep up with demand and the economic crisis which has reduced buyers purchasing power could have an impact on the market, nonetheless it has resisted to these obstacles.
Although the conflict in Ukraine is not showing signs of slowing down, this damaging war hasn’t had a big influence on the vehicle market, which has been thriving throughout 2023, thanks to the huge supply of Chinese models which replaced the Western OEMs, which left the country as effect of the US/EU sanctions.
Apart the local manufacturer, Lada (now re-purchased by the Russian State from Renault), 8 out the top 10 brands are Chinese. Is somehow a surprise that Kia is still 8th, while should be exit from the market.
Looking at cumulative data up to December 2023 brand-wise, Lada is the brand with the most sales at 341,361 (+81.0%), followed by Chery -up 2 spots- at 165,059 new registrations, a 216.3% year-on-year growth. Haval in third also reports a positive performance being up 5 spots, with 116,139 new sales (+245.2%).
Geely moves up 5 spots into 4th with 92,076 sales (+277.1%), followed by Gaz with 37,565 registrations (-10.8%), Changan -up 13 spots- at 32,044 (+469.5%) and UAZ with 24,848 sales (-26.7%).
In 8th place Kia -down 6 spots- with 13,988 sales (-78.8%), followed by Great Wall -up 19 spots- with 11,112 (+577.1%) and in 10th FAW -up 12 spots- with 7,129 units sold (+216.3%).
Tables with sales figures
In the tables below we report sales for All Brands, Top 10 Manufacturers Group and Top 10 Models.
