Outcast nation and perennial antagonist, Russia, has faced heavy sanctions from Western and European powers in recent years, primarily stemming from the Russia-Ukraine conflict. These sanctions aimed to exert immense pressure on Russia’s economy. However, as the conflict in Ukraine escalated, Russia’s economy unexpectedly grew stronger, outperforming Europe, which has slipped into an economic depression.

Russia’s economy is booming, and despite the departure of international car companies, new car sales in Russia have been bolstered by Chinese brands, which now dominate the market. In 2023, Russia emerged as China’s primary car export destination.

Chinese imports saw robust sales of 841,000 vehicles from January to November. While sales of Lada significantly outpaced those of any Chinese brand, certain Chinese brands experienced even more substantial growth.

Sales of Chinese brands surged by 64.5% in March and showed a solid 43.2% year-on-year increase for the first three months. In March, Great Wall’s Haval brand, along with Geely and Chery, sold 16,045, 15,004, and 13,159 units, respectively. Lada remained at the top with over 39,000 new car sales.

These figures suggest that Russia is poised to remain China’s primary export market, with sales expected to significantly surpass last year’s numbers, likely exceeding a million cars in 2024.

New Car Sales in Russia: March 2024