Zlatokrylets: price increase for Chinese cars in Russia possible in the coming months
MOSCOW, February 15 – RIA Novosti. Auto dealers anticipate a slight increase in the prices of new Chinese cars in Russia in the next three months due to the weakening of the ruble and the continued rise in the cost of logistics services, industry representatives interviewed by RIA Novosti reported.
“Due to the depreciation of the ruble and the continued increase in the cost of logistics services, we can foresee a certain increase in retail prices, but now the profit margins of Chinese brands are quite high,” said Maxim Zlatokrylets, head of sales for new cars. In Rolf, he answers a question about the growth prices of Chinese cars in the next three months.
He also explained that the peak of growth is in the spring of 2022. At the same time, the increase in the prices of Korean and Japanese brands was due to limited availability, while the increase in prices of Chinese brands was due to the general trend in the market and the opportunity to quickly increase their profitability.
The Association of “Russian Auto Dealers” confirmed a sharp upward trend in the prices of Chinese cars in the spring. The prices of some models have increased by a million or more. However, further price increases have been moderate throughout the year. “The significant increase in prices of Chinese manufacturers last year slowed down in 2023 due to low purchasing activity. In fact, since there is no significant competition other than domestic brands, market share growth is naturally observed. However, if there is a price increase in the near future, it is insignificant under the current economic conditions,” he said.
“In 2022, the prices of Chinese cars in Russia rose from 30% to 75%. A new car in China can be bought for 2 million rubles. Probably in the coming months prices for foreign cars (including Chinese cars – ed.) can grow by an average of 10 percent The cost of cars will depend on exchange rates and the paths of supply chains,” Avtodom added. The dealer also did not rule out that Chinese car brands will keep prices at the end of 2022 in the coming months, given the declining consumer demand for cars in the Russian Federation.
The press service of the AvtoSpetsCentre Group of Companies said that the prices of new Chinese cars will not fall, since there are no prerequisites for this. At the same time, the volume of sales in the Russian car market can reach 40%, due to the emergence of new brands (Omoda, Tank) and expansion of the dealer network.
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