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They already had a 42 percent market share in the first quarter of this year, following the withdrawal of European, American, Japanese and Korean automakers. “They’re even growing in volume in a much smaller market,” Inovev said.
According to industry experts, after the start of the war in Ukraine, the Russian market fell from an average of 140,000 vehicles per month to about 40,000 vehicles. “The decline in the market is mainly due to the exit of European, American, Japanese and then Korean automakers.”
Russian automakers are doing pretty well despite the economic sanctions. At 42 percent, Chinese manufacturers’ sales volume is now as high as that of the most popular Russian car brand Avtovaz: According to Inovev, they sold 64,432 cars and light commercial vehicles in the first quarter of this year, after 24,734. 18,981 in the first quarter of 2022 and the first quarter of 2021.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
