Chinese Increases Automobile Exports to Russia

Nov. 17, 2011 - PRLog -- Automakers in China's exports to Russia have regained strong growth this year due to the Russian economy’s recovery from the global economic crisis of 2009.

The largest automobile exporter to Russia Chongqing Lifan Industry Group Co sold 14,480 vehicles in Russia in the first 10 months of this year, up 50 percent from the year-ago period, according to the European Automobile Manufacturers Association.

Great Wall Motor Co.'s exports surged 88 percent year-on-year to 5,172 units through October, while Zhejiang Geely Holding Group Co. exported 3,992 units, up 50 percent from earlier figures.
Others such as BYD Co & Haima Automobile Co, totaling 1,485 units and 2,664 units, respectively.

The only Chinese automaker whose exports to Russia have declined is Chery Automobile Co. It delivered 5,359 vehicles to Russia, a downfall of 33 percent. Chinese car exports to Russia remained strong in 2007 and 2008, but stumbled in 2009 after the Russian economy was hit hard by the global economic situation.

The Association of European Businesses (AEB) said last week that Russian car sales are expected to grow 12 percent next year to 2.8 million units, down from around 30 percent growth in 2011, but maintaining a recovery that should bring the market to the tip of pre-crisis levels.

The AEB has upgraded its forecast for 2011 to 2.55 million from 2.45 million. Russia was on course to overtake Germany as Europe's biggest car market before the financial crisis, but a collapse in demand as credit dried up caused sales to halve in 2009.

Russian year-to-date sales came in at 2.16 million, up 43 percent from the same period in 2010 and above the 1.9 million sold in the whole of that year.

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