Russia Car Sales Increased by 69% in 2023

Russia saw a remarkable 69% year-on-year increase in new car sales in 2023, reaching 1,058,708 units in comparison to 687,370 cars sold in 2022.

Despite this substantial recovery, the sales volume is yet to reach the 2021 levels observed before the Russia-Ukraine conflict. Due to sanctions and the withdrawal of most international automakers, the majority of automobiles sold in Russia originate from Russia or China.

Related: Car Sales in Russia Going North with Chinese Models Dominating

Sales of the local Russian automaker Lada have increased significantly, increasing from 174,688 automobiles in 2022 to 324,446 cars in 2023. As a result, it now has a 30.6% market share, up from 27.9%.

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Additionally, sales of Chinese automobiles have also increased dramatically. With approximately 498,000 units, 47% of all new passenger cars sold in Russia are Chinese vehicles. Following the Ukraine conflict, and an absence of foreign automakers, Chinese brands have risen to prominence with 6 of the top 10 best-selling brands in Russia.

Related: Russia is Now China’s #1 Export Destination

Chery with 118,950 units, secured the second spot in sales charts and claimed an 11.2% market share. Moreover, both Exeed, ranking 6th, and Omoda, ranking 7th, are sub-brands of Chery, contributing to Chery’s overall sales figure of around 200,000 cars in the Russian market in 2023. Haval, Geely, and Changan are just a few of the other Chinese companies that have had significant growth in sales and are now ranked 3rd, 4th, and 5th in the sales rankings, respectively.

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Despite the current sanctions, analysts anticipate that Russia’s vehicle sales will continue to expand through 2024. According to projections, car sales could rise by a further 25–30% from their current level and could reach approximately 1.4 million units by 2024 and likely surpass the 2021 levels within a couple of years.

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