Chinese cars spreading around Russia
Top 10 best-selling cars in 2024 include cars from China and Lada
It is becoming increasingly difficult for an inexperienced buyer to navigate the Russian new car market: according to the Russian Association of Automobile Dealers, there are more than 57 Chinese brands on the market that actively compete with each other. Lada still holds the leadership in the car market, but it is already starting to lose its share. Which Chinese brands Tatarstan residents chose in 2024, how many new cars they bought, and whether to expect stagnation after the rapid growth of 2023 — in the review of Realnoe Vremya analytical service.
Number of new cars in Tatarstan has doubled
In the first half of 2024, 713,300 new passenger cars were sold in Russia — this is 79%, or 315,900 more than in the first half of 2023. At the same time, 31,040 new passenger cars were sold in Tatarstan — this is by 90% (almost two-fold) more than in January—June last year, Alexander Klimnov, an expert at Autostat Info, told Realnoe Vremya.
In March, the Russian car market showed its best performance — 146,500 cars sold. However, against the background of changes in the rules for importing cars through the EAEU countries, as well as after the increase in the Central Bank's key rate, the car market is stagnating.
Judging by the analytics provided by Autostat-Info, the Russian market of new cars is almost completely captured by China, who are growing more dynamically than the domestic AvtoVAZ. Lada cars still hold the lead in the top of the most popular brands, but AvtoVAZ's share decreased from 29.4% to 28.1% in the first half of 2024.
Haval has seriously increased its presence in Russia — the share of new car sales increased from 10.2% to 12.4%. Chery is the third, but the share of this brand has decreased from 12.5% to 11.1%. Changan (the share increased from 4.3% to 8%), Geel (the share increased from 8.5% to 9.1%) and Jetour (from almost zero to 2.6%) were actively growing.
Top 10 car brands in the 1st half of 2024 in Russia
Brand | Number of cars | Dynamics | Market share | |
1 | Lada | 209,400 | +55% | 28.1% vs. 29.4% in 2023 |
2 | Haval | 82,200 | +113% | 12.4% vs. 10.2% |
3 | Chery | 72,100 | +52% | 11.1% vs. 12.5% |
4 | Geely | 69,800 | +113% | 9.1% vs. 8.5% |
5 | Changan | 48,200 | +448% | 8% vs. 4.3% |
6 | Omoda | 25,400 | +83% | 4.2% (remained the same) |
7 | Exeed | 22,900 | +38% | 2.9% vs. 3.8% |
8 | Jetour | 14,600 | 11.7-fold increase | 2.6% vs. 0.1% |
9 | Belgee | 14,200 | from zero | 2.7% |
10 | Tank | 13.300 | 5.3-fold increase | 1.9% vs. 1.36% |
Data of Autostat Info
The picture in Tatarstan is slightly different from throughout Russia: for example, Lada's share in the Tatarstan market is higher — 33.8%. In general, the top 10 most popular brands among new cars are similar to nationwide — except for Hyundai and Moskvitch.
Top 10 car brands in the 1st half of 2024 in Tatarstan
Brand | Number of cars | Dynamics | Market share | |
1 | Lada | 11,700 | +57% | 33.8% vs. 39.8% in 2023 |
2 | Haval | 3,700 | +182% | 12.6% vs. 8.5% |
3 | Chery | 2,900 | +52% | 11.1% vs. 12.5% |
4 | Geely | 69,800 | +103% | 10.1% vs. 9.8% |
5 | Changan | 1,900 | +13.5% | 8.2% vs. 1.8% |
6 | Omoda | 1,000 | 3-fold increase | - |
7 | Exeed | 0,800 | +40% | - |
8 | Hyundai | 0,700 | — 41% | - |
9 | Jetour | 0,600 | from zero | - |
10 | Moskvitch | 0,500 | +159% | - |
Data of Autostat Info
“In the first half of 2024, we sold 12,930 new cars. Sales growth compared to the same period last year is significant — by 121.3%. As for the direction of used cars, sales here in the first half of 2023 amounted to 11,036 cars, and in the same period of 2024 — 14,350 cars, which is by 30% more," Ruslan Shaikhlislamov, the commercial director of the Kazan division of TTS, told Realnoe Vremya.
The average price of a car purchased in the TTS in the first half of 2024 amounted to 2.14 million rubles. It has not changed significantly, last year it was 2.1 million rubles, he said.
Sensitive factors for the car market today, according to him, are the high key rate, inflation and changes in the rules for the import of cars for parallel imports, effective from April 1 this year.
Share of Chinese brands is approaching 60%
At the same time, prices for different models moved in different directions in the first half of the year: some rose, but some remained stable or decreased, Klimnov notes. “There was no global price reduction, and after the increase in the recycling of foreign cars for parallel imports, they rose significantly," he commented.
“Since the beginning of 2024, sales have been declining, but the excitement in the market has not ended even against the background of an increase in the cost of loans, and since the programme of preferential loans ended in early June, the second half of the year may be problematic," predicts Alexander Klimnov. “By the end of July and August, it will become clear where the market is going.”
Expert: top 10 leaders will change again by the end of the year
Car prices, according to forecasts by Dmitry Baranov, a leading expert at Finam Management, will continue to increase, however, the growing competition in the car market will serve as a limiting factor and will not allow the price of cars to rise significantly.
According to the analytical agency Autostat, in April 2024, the weighted average price of a new car decreased for the first time — it amounted to 3.14 million rubles, or 100 thousand rubles less than in March (then the average price of a new car was 3.24 million rubles). Over the past decade, the average price of a new car in Russia has tripled. In 2014, the weighted average price of a new car, according to Autostat, was 1,001 million rubles. Then it grew steadily: after covid restrictions, by 2021 the average price for a new car had doubled to 2.07 million rubles. Sanctions restrictions have brought the average price of new cars in Russia to 3 million rubles.
The fact that AvtoVAZ is about to be displaced from the first place in sales in Russia was said for many years, but this does not happen, because the company does not stand still, it develops, produces new car models, modernises production, has a developed sales network in the country. AvtoVAZ has long become a classic automaker, like many other global companies, its position in the country is stable, so the company will remain the sales leader in the country by the end of 2024, the expert is sure.