Asia-Europe Auto Market | Russian auto sales in October: Chinese brands account for nearly half!

Produced by ZhiNeng Tech

In October, Russia's passenger car market sold a total of 171,179 new vehicles, with Chinese automakers achieving total sales of 83,053 units, capturing a market share of 48.30%, nearly half, highlighting the significant position of Chinese automakers in the Russian market. Each brand's sales were substantial and showed strong growth.

● Haval: October sales reached 23,801 units, with a market share of 13.90%, a year-on-year increase of 85.60%.

● Geely: Geely Group's Geely brand sold 17,163 units in October, capturing a 10.00% market share, with a year-on-year growth of 65.70%.

● Chery: Chery Group's Chery brand sold 15,140 units in October, with an 8.80% market share, a year-on-year increase of 39.40%.

● Changan: Changan Group's Changan brand sold 10,973 units in October, with a 6.40% market share, a year-on-year growth of 71.80%.

● Belgee (a joint venture between Geely Group and Belarus): October sales were 4,346 units, with a 2.50% market share, and a staggering year-on-year growth rate of 1912.00%.

Brands under Chery Group, such as Omoda, Jetour, and Exeed, also made it into the top ten sales rankings. Among them:

◎ Omoda sold 4,186 units in October, with a 2.40% market share;

◎ Jetour sold 4,020 units, with a 2.30% market share, a year-on-year increase of 111.40%;

◎ Exeed sold 3,424 units, with a 2.00% market share.

Monthly Sales by Brand

October 2024:

● Haval broke monthly sales records with an 85.6% growth rate, achieving a 13.9% market share, a historic high. Its SUV models, particularly the Haval Jolion and M6, have gained strong recognition among Russian consumers, serving as the core drivers of sales growth.

● Geely (+65.7%) followed closely, rising to third place and also setting a brand record for monthly sales. Chinese independent brands have achieved remarkable success in the Russian market through localized production, market adaptation, and SUV strategies.

● Chery (+39.4%) and Changan (+71.8%) ranked fourth and fifth, respectively, continuing to expand their market influence. While Omoda and Jetour faced different situations, Jetour set a new monthly record with a 111.4% increase, further solidifying the overall performance of Chinese brands.

● As a local Russian brand, Lada maintained its market leadership, with October sales growing by 30% and a market share of 26.2%. However, this growth rate was lower than the overall market's 52.4%, leading to a year-on-year decline in its market share.

This trend shows that local brands are gradually losing some market share to overseas competitors, particularly Chinese brands. Lada needs to accelerate product iteration and marketing innovation to adapt to the changing market landscape.

● Toyota re-entered the top ten for the first time since its 2022 exit from the Russian market due to geopolitical factors, with a 62.5% year-on-year increase. Its 2.1% market share surpassed the year-to-date average of 1.3%, indicating that Russian consumers still highly recognize the Toyota brand, and foreign brands retain recovery potential in the current market environment.

Monthly Sales by Model

● The Lada Granta remained the best-selling model in the Russian market, with October sales up 14.6% year-on-year, but its market share fell from 16.5% to 12.4%, indicating that Lada's market dominance is gradually being eroded by Chinese brands.

● The Haval Jolion (+81.6%) rose to second place in sales this month, achieving the brand's highest-ever ranking, with monthly sales exceeding 10,000 units for the first time. This SUV has won widespread consumer favor in the Russian market due to its high cost-performance ratio, premium features, and reliability.

The success of the Jolion is not only the core driver of Haval's overall sales growth but also marks the comprehensive rise of Chinese brands in the SUV market.

In addition to the Haval Jolion, Chery's Tiggo series also performed impressively.

● The Tiggo 7 Pro Mx (+78.5%) and Tiggo 4 Pro (+43.6%) continued to rank among the best-selling models, proving that Chery's product lineup aligns with the Russian market's demand for compact SUVs.

● Furthermore, the Geely Monjaro (+49.6%) enhanced the brand's competitiveness in the Russian market with its premium positioning and strong performance.

● The Haval M6 (+102.4%) recorded the highest sales growth this month, becoming a standout in the best-selling models list. This SUV, known for its practicality and affordability, has gained popularity in the Russian market, entering the top ten for three consecutive months.

Summary

Chinese brands still have immense growth potential in the Russian market, but they must also focus on maintaining product competitiveness and continuously optimizing localization strategies.