Russian car dealers massively fill warehouses with Chinese cars

Russian car dealerships have accumulated a stock of unsold Chinese cars, reaching 175 thousand units.

This information was shared by Sergey Udalov, executive director of the Autostat agency. He believes that such a volume of unsold cars will soon intensify competition among sellers who will want to get rid of run-offs faster. Despite the oversupply, a significant drop in prices should not be expected.

Udalov also notes that Russians' interest in Chinese cars may decrease in early 2024. This will be due to the high key rate of the Central Bank of Russia, which, in turn, will lead to the rise in the cost of car loans, as well as the introduction of the utilization fee.

According to September-October data, the average cost of a passenger car in Russia reached 3 million rubles. At the same time, the price of a Russian-made car was about 1.2 million rubles, while similar models from China were offered at a price of 3.4 million rubles. In general, prices for passenger cars increased by 3% over the year.